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$1 billion in funds, earmarked for the training and equipping of Iraqs defence forces in the fight against terrorists and insurgents, has been stolen from the country's defence ministry in what is being described as one of the biggest thefts ever. The contract to equip Iraqis is under the spotlight, since it was a no-bid deal won by a Baghdad company acting as middle-man and all money was paid up front and paid very quickly. Equipment was purchased which was only good for scrap. The theft has so weakened the defence forces that they cannot hold Baghdad without US help, meaning that any withdrawal is now unlikely. Rogue elements within the US military are suspected to be behind the theft, with negligence also blamed. Source: news.independent.co.uk
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