US firms suspected of bilking Iraq funds

Millions missing from program for rebuilding
By Farah Stockman, Globe Staff | April 16, 2006

WASHINGTON -- American contractors swindled hundreds of millions of dollars in Iraqi funds, but so far there is no way for Iraq's government to recoup the money, according to US investigators and civil attorneys tracking fraud claims against contractors.

Courts in the United States are beginning to force contractors to repay reconstruction funds stolen from the American government. But legal roadblocks have prevented Iraq from recovering funds that were seized from the Iraqi government by the US-led coalition and then paid to contractors who failed to do the work.

A US law that allows citizens to recover money from dishonest contractors protects only the US government, not foreign governments.

In addition, an Iraqi law created by the Coalition Provisional Authority days before it ceded sovereignty to Iraq in June 2004 gives American contractors immunity from prosecution in Iraq.

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http://www.boston.com/news/nation/washington/articles/2006/04/16/us_firms_suspected_of_bilking_iraq_funds/

Hard time.

What happens if you're caught stealing a few hundred mil from your gov't contract? You're made to pay some of it back. Then they award you another contract. If you get caught stealing three more times, they make you resign as CEO so you can run for Vice President.

Nice reputation for future Americans generation

:(

:sarcasm: This can't be so...

:eyes:

"American contractors swind(ling) hundreds of millions of dollars in Iraqi funds" was kind of the POINT!!!

:eyes:
rocknation

Com on now -- is anybody really surprised by this? :eyes:

...In addition, an Iraqi law created by the Coalition Provisional Authority days before it ceded sovereignty to Iraq in June 2004 gives American contractors immunity from prosecution in Iraq...

Who knew that Bremer, after "misplacing" some $9 billion during his brief tenure running Iraq, would leave laws in place that would hold companies like Halliburton, Custer Battles, and the rest complete harmless from their looting of the country?

Well, I'm sure that as soon as George W. Bush finds out about this, he'll be on it like a bulldog with a pork chop. We all know how concerned he is over the well-being of each and every Iraqi (except those goddammed insurgents).

Made millions