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CNN Sunday Morning
Soldiers Find Stockpile of Cash in Baghdad
Aired April 20, 2003 - 09:04 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ANDERSON COOPER, CNN ANCHOR: Let's go to the Pentagon now for an update from our Barbara Starr from all the latest developments. Good morning, Barbara.
BARBARA STARR, CNN PENTAGON CORRESPONDENT: Well, Anderson, there's been a very interesting story that's emerged over the last couple of days. You've referenced it earlier this morning. This stockpile of cash that U.S. soldiers found beginning on Friday night.
Now, apparently, a group of soldiers were searching a palace complex near Baghdad, along the Tigris river, and as they entered one of the buildings, they found dozens of boxes, riveted shut. And when they pried them open, piles and piles of cash. Stacks and stacks of fresh $100 bills. We're told they then went to another building nearby. They found more money. And when it was all over, they counted $650 million of U.S. currency.
Now, it is still being validated, of course, that this is legitimate U.S. currency, but there's every reason to believe it is, because it was well hidden in boxes shut. It is believed that all of this cash was some of the final money hidden away by the Republican Guard and some of the Baath Party leaders before they fled Baghdad. The money's being counted. It's in a very safe place, we're told. And the plan at the moment, by the U.S. Treasury, is to leave the money just where it is and have it remain there for the Iraqi people and the new Iraqi government.
But it's just one of those cases where you never know what you're going to come across -- Anderson.
COOPER: Yes, I'm sure they did not expect that. Although it seems a curious story. First of all, it must have taken them forever to actually count out $650 million. Do you know details? Did they do that on site, or was that counted only after they brought it back to their base at the Baghdad Airport?
STARR: Well, we don't really know how it all transpired, but what we're told is that the stacks, like, had, you know, hundreds and hundreds of bills stacked together, each box apparently -- some of the boxes having $4 million apiece. So presumably, they may have counted first and then maybe the higher-ups counted it once again.
COOPER: But the money is in U.S. custody and it's just going to remain there until determined whether or not it's real?
STARR: It is. There's every reason to believe it was -- it is real at this point, because it was so well concealed and that it was in these aluminum boxes riveted shut. The belief is this was one of the cash stockpiles of the regime before it fled from Baghdad. But it is being closely looked at. And they're trying to find out if they can determine exactly where this money came from.
COOPER: I'm sure a lot of people would like to know the answer to that. It does not sound like it came from a legitimate source. Barbara Starr, thanks very much.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired April 20, 2003 - 09:04 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ANDERSON COOPER, CNN ANCHOR: Let's go to the Pentagon now for an update from our Barbara Starr from all the latest developments. Good morning, Barbara.
BARBARA STARR, CNN PENTAGON CORRESPONDENT: Well, Anderson, there's been a very interesting story that's emerged over the last couple of days. You've referenced it earlier this morning. This stockpile of cash that U.S. soldiers found beginning on Friday night.
Now, apparently, a group of soldiers were searching a palace complex near Baghdad, along the Tigris river, and as they entered one of the buildings, they found dozens of boxes, riveted shut. And when they pried them open, piles and piles of cash. Stacks and stacks of fresh $100 bills. We're told they then went to another building nearby. They found more money. And when it was all over, they counted $650 million of U.S. currency.
Now, it is still being validated, of course, that this is legitimate U.S. currency, but there's every reason to believe it is, because it was well hidden in boxes shut. It is believed that all of this cash was some of the final money hidden away by the Republican Guard and some of the Baath Party leaders before they fled Baghdad. The money's being counted. It's in a very safe place, we're told. And the plan at the moment, by the U.S. Treasury, is to leave the money just where it is and have it remain there for the Iraqi people and the new Iraqi government.
But it's just one of those cases where you never know what you're going to come across -- Anderson.
COOPER: Yes, I'm sure they did not expect that. Although it seems a curious story. First of all, it must have taken them forever to actually count out $650 million. Do you know details? Did they do that on site, or was that counted only after they brought it back to their base at the Baghdad Airport?
STARR: Well, we don't really know how it all transpired, but what we're told is that the stacks, like, had, you know, hundreds and hundreds of bills stacked together, each box apparently -- some of the boxes having $4 million apiece. So presumably, they may have counted first and then maybe the higher-ups counted it once again.
COOPER: But the money is in U.S. custody and it's just going to remain there until determined whether or not it's real?
STARR: It is. There's every reason to believe it was -- it is real at this point, because it was so well concealed and that it was in these aluminum boxes riveted shut. The belief is this was one of the cash stockpiles of the regime before it fled from Baghdad. But it is being closely looked at. And they're trying to find out if they can determine exactly where this money came from.
COOPER: I'm sure a lot of people would like to know the answer to that. It does not sound like it came from a legitimate source. Barbara Starr, thanks very much.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
