Apparently, the BBC has been able to find where some of it went…

The search for the missing billions also led the programme to a house in Acton in West London where Hazem Shalaan lived until he was appointed to the new Iraqi government as minister of defence in 2004.

He and his associates siphoned an estimated $1.2 billion out of the ministry. They bought old military equipment from Poland but claimed for top class weapons. Meanwhile they diverted money into their own accounts.

Judge Radhi al-Radhi of Iraq’s Commission for Public Integrity investigated. He said: “I believe these people are criminals.

Panorama: Daylight Robbery will be on tonight (June 10th) on BBC One at 9pm. I don’t know what timezone that is, but I’m guessing EST. Check it out if you can.

Business Finding Our Missing Billions In Iraq