“With so much cash arriving in Iraq, you might think that extensive precautions would be taken,” says Rep. Henry Waxman, D-Calif. “But exactly the opposite happened: U.S. officials used virtually no financial controls … payments were made from the back of a pickup truck … and cash was stored in unguarded sacks in Iraqi ministry offices…”
So far, the only effort to hold contractors accountable for illegal or incompetent actions has been in the courts. On February 13th, arguments began in the first high-profile civil fraud case filed against an Iraq war contractor. Two whistleblowers are charging Custer Battles LLC with using sham invoices and offshore shell companies to defraud taxpayers of $50 million while performing security work.
http://www.tompaine.com/articles/2006/02/27/grand_theft_baghdad.php