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Watchdog: Fraud in Iraq oil sales

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CHIMO Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-04 10:37 PM
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Watchdog: Fraud in Iraq oil sales
A UN oversight board has found irregularities in Iraq's oil export sales under US-led authorities between May 2003 and June 2004.


In its report released on Tuesday, the International Advisory and Monitoring Board for Iraq (IAMB) said it had also met delays in separate audits on sole-sourced contracts from the US Defence Contract Audit Agency.

The board said it had requested the special audits after finding that "some contracts using DFI (Development Fund for Iraq) funds had been awarded to a Halliburton subsidiary without competitive bidding".

The IAMB strongly recommended Iraq to discontinue using barter transactions, which go unrecorded and "makes it difficult to determine whether fair value has been received for Iraq's oil revenues".

http://english.aljazeera.net/NR/exeres/E71DC00C-3D37-4683-B6DC-7378B360227A.htm
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Old and In the Way Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-04 10:48 PM
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1. Corruption........ and Halliburton involved?
What a surprise.
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struggle4progress Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-04 11:42 PM
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2. The Bushistas: a gang of crooks. eom
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