Pentagon Lacks Records For $1.7B In Iraqi Funds: Report

Law360, New York (January 30, 2012, 6:56 PM EST) -- A federal watchdog's Monday report found that the U.S. Department of Defense still cannot produce records for about $1.7 billion of $2.8 billion in Iraqi funds that the U.S. managed during the handover of power to the new Iraqi government in 2004.

The report by the Special Inspector General for Iraq Reconstruction, Stuart Bowen, is the latest in a series of reports and audits intended to reduce waste and fraud in U.S. war spending.  The nearly $1.7 billion in undocumented spending is the last unaccounted-for piece...
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