BBC Uncovers Lost Iraq Billions

A BBC investigation estimates that around $23bn (£11.75bn) may have been lost, stolen or just not properly accounted for in Iraq. The BBC's Panorama programme has used US and Iraqi government sources to research how much some private contractors have profited from the conflict and rebuilding. A US gagging order is preventing discussion of the allegations. The order applies to 70 court cases against some of the top US companies.

While President George W. Bush remains in the White House, it is unlikely the gagging orders will be lifted. To date, no major US contractor faces trial for fraud or mismanagement in Iraq.

Here's the video report from the BBC's Panorama: