US audit finds 'spectacular' waste of funds in Iraq

Millions lost in 'chaotic misuse,' while report says many reconstruction projects won't be finished.

By Tom Regan | csmonitor.com

"Spectacular misuse of tens of millions of dollars."

That is what The Australian says an audit by the the US Special Inspector-General for Iraq Reconstruction of the former Coalition Provisional Authority office in Hilla, Iraq, has uncovered. The newspaper says the report details bundles of money stashed in filing cabinets, a US soldier who gambled away thousands of dollars, and stacks of newly minted notes distributed without receipts.