One billion dollars has been plundered from Iraq's defence ministry in one of the largest thefts in history. The money, intended to train and equip an Iraqi army, was instead siphoned abroad in cash and has disappeared.
Most of the money was supposedly spent buying arms from Poland and Pakistan. The contracts were peculiar in four ways. According to Mr Allawi, they were awarded without bidding, and were signed with a Baghdad-based company, and not directly with the foreign supplier.
Source: Independant Online
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