Missing Millions Said Going Back to Iraq's Bank [View All]

WASHINGTON - A leading Arab newspaper is reporting today that the Central Bank of Iraq is in the process of retrieving some $200 million withdrawn earlier this month by the country's defense minister for a mysterious arms deal.

Al-Hayat quotes an official Iraqi source as saying the governor of CBI, Sinan al-Shabibi, ordered the Lebanese and Jordanians to send back cash payments last week when he learned the Defense Ministry had withdrawn at least $200 million in cash for an arms purchase without his consent.

In an interview yesterday, a spokesman for the United Iraqi Alliance, a coalition made up mainly of Shiite parties that is expected to win the most seats in the January 30 elections, said he expected the new assembly that will take power next month to investigate the charges that the defense minister, Hazim Shaalan, tried to steal some $300 million from the government this month.
...
"Mr. Shaalan has ties to the former Iraqi intelligence and these ties have discredited him and discredited many others who have these ties and occupy important positions in the interim government," Mr. Qanbar added. "I would advise Mr. Shaalan to acknowledge his past and ask for an apology from the Iraqi people."

http://www.nysun.com/article/8094