Fox News reports on UN oil-for-food program audits

[underpants]

This is almost verbatim in italics. Emphasis is NOT added



These audits amount to the smoking gun according to one congressional investigator (read down to find out who) who has seen them.

UN officials were repeatedly warned that the program was awash in corruption. the UN refused to release their audits but on Monday Paul Volker, who leads to ONLY UN approved inquiry, is going to make them public.

They appear to show a systematic failure to adequately oversee the program resulting in overcharging by contractors in MILLIONS of dollars which in effect belong to the Iraqi people.

He went on to say that one audit of Lloyd's register showed that they charged the UN for 1,800 days of work when their employees weren't in Iraq amounting to an over charging of $1.38 MILLION.

Dutch Co. Sable who were supposed to oversee Iraq's oil exports overcharged and a savings of $471,000 could have been achieved.
"...no procedure had been established to monitor the services of the contractor"-that is as of the end of the audit, where these implemented afterwards (normal management procedure AFTER the fact gathering audit).

The UN claims the audits shows how closely they were being supervised but after studying them a Congressional investigator with Henry Hyde's International Relations committee told me "this is clear evidence of the gross mismanagement of the oil-for-food program"

Johnathan Hunt

Fox News New York

Audits Ignite Oil-For-Food Program Debate
http://story.news.yahoo.com/news?tmpl=story2&u=/ap/20050109/ap_on_re_mi_ea/oil_for_food_investigation

In an interview with The New York Times published Friday, Volcker downplayed the importance of the audits. "There's no flaming red flags in this stuff," he said.