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$1b taken from vaults, says report
published: Wednesday | May 7, 2003

NEW YORK, (Reuters):

A SON of Saddam Hussein and a close adviser, carried off nearly $1 billion in cash from Iraq's central bank hours before the US-led war on the country began, the New York Times reported on its website late on Monday.

The amount of cash was so large ­ $900 million in American bills and $100 million worth of euros ­ that three tractor trailers were needed to carry it, the newspaper reported, citing an Iraqi official.

The alleged removal was said to have been ordered by Saddam himself. Qusay, the deposed leader's second son, and one of the president's personal assistants, Abid al-Hamid Mahmood, carried a letter from Saddam authorising the removal of the money, the newspaper reported.

"When you get an order from Saddam Hussein, you do not discuss it," an unnamed Iraqi official, who held a senior position in a bank, told The Times. The unnamed official was told about the removal of the cash by the people who turned it over to Qusay and the adviser, the newspaper reported.

The New York Times said Iraqi officials were uncertain what effect the disappearance of the cash, which amounted to about one quarter of the central bank's hard currency reserves, would have on the Iraqi economy.

CASH MAY BE IN SYRIA

American officials and Iraqis interviewed by The Times said they did not know where the money went, but some Ameri-cans said they suspect it was transported to Syria, the newspaper reported. The money was reportedly stolen at 4 a.m. on March 18.

Col. Ted Seel, a US army special forces officer, said he was aware of the seizure of cash, the newspaper reported. He said there was intelligence information at the time that suggested a group of tractor trailers were crossing into Syria from Iraq.

The Times, however, quoted a US Treasury Department official, George Mullinax, as saying that it was possible a large chunk of the money had been recovered.

He said about $650 million in US $100 bills found by an American sergeant in one of Saddam's palaces might be from the central bank, although that had not been determined for certain.

Saddam and his two sons have not been seen in public since the war began. The ousted Iraqi leader made a number of television appearances during the war, but it was not possible to verify when they were recorded.

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