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Friday, September 16, 2011

Fraud Close To $60 Billion In Outsourcing Wars

More than a quarter of a million security contractors have been deployed to Iraq and Afghanistan since 2002, and between them they have managed to “lose” at least $31 billion of the $190 billion spent on their contracts and grants, or approximately 30 per cent of taxpayer funds they received, according to a government watchdog commission.

The Commission on Wartime Contracting estimates that the U.S. contractor workforce has at times exceeded 260,000, outnumbering the deployed military.”

It charged that the $31 billion loss was “due to lack of oversight” over the private companies providing national security and support services.

The eight-member, bipartisan Commission submitted its last report to Congress this week.

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