The Baghdad Billions

First broadcast November 2006

Iraq has become a vast financial black hole.

Since the war began in 2003, the Americans have spent around $30 billion of their money - and at least $20 billion of Iraq's own money - in rebuilding the country. But where has it all gone?

Mark Gregory has followed the money trail from Iraq to Washington via a kebab shop in Jordan.

He discovers that there have been allegations of fraud, mismanagement and corruption on such a gigantic scale that much of the money is now untraceable.