Saddam's Big $core
Saddam Hussein ordered his younger son Qusai and a trusted aide to remove $900 million in U.S. and European currency, confirms a State Department spokesman.
"We are working to hunt down the assets that were stolen by the regime of Saddam Hussein," said Assistant Secretary of State Richard Boucher. "We'll actively follow up on all the leads. All these assets are the property of the Iraqi people."
It took three tractor-trailers to haul away the loot from Iraq's Central Bank a few days before the United States began bombing Baghdad, reports a newspaper.
Where Saddam, his son and the cash are now is the subject of speculation. One report cited by The New York Times says a convoy of tractor-trailers crossed into Syria, but the contents of the trucks was unknown.
A U.S. Treasury official, however, says the approximately $650 million found by U.S. forces in one of Saddam's palaces last month might have been from the Central Bank, but an Iraqi banking official said he doubts it: Saddam's oldest son Odai was known for hoarding large sums of cash.
The bank operation, which an Iraqi official said took place at 4 a.m. on March 18, was confirmed by U.S. Treasury official George Mullinax, who is assigned to help rebuild Iraq's banking system.
The money was in euros and U.S. $100 bills, and represents about a fourth of the Iraqi treasury.
In other developments:
In taking the job, Bremer is leaving a private-sector crisis consulting firm, reports CBS News White House Correspondent Mark Knoller. He also has extensive government experiencem including three years as ambassador-at-large for counterterrorism under Ronald Reagan.
Qusai, Saddam's younger son, and Abid al-Haimd Mahmood, Saddam's personal assistant, organized the removal of the cash, the Times report said, quoting an Iraqi banking official who spoke on condition of anonymity for fear of reprisals from Saddam's Baath Party.
No financial rationale was offered to bank officials for the removal of the money, which would amount to one of the largest bank robberies in history, and none was needed.
"When you get an order from Saddam Hussein, you do not discuss it," said the Iraqi official.
The newspaper said the billion dollars taken by Saddam was nearly twice the amount looted by Iraqis from the bank after the April 9 collapse of Saddam's regime.