At the start of the Iraq war, around $23bn-worth of Iraqi money was placed in the trusteeship of the US-led coalition by the UN. The money...was to be used in a transparent manner"...for "purposes benefiting the people of Iraq". For the past few months we have been working on a Guardian Films investigation into what happened to that money. A great deal of it has been wasted, stolen or frittered away. Over the first 14 months of the occupation, 363 tonnes of new $100 bills were shipped in - $12bn, in cash. "Iraq was awash in cash - in dollar bills. Piles and piles of money," says Frank Willis, a former senior official with the governing Coalition Provisional Authority. "We played football with some of the bricks of $100 bills before delivery. It was a wild-west crazy atmosphere". The environment created by the coalition positively encouraged corruption. "American law was suspended, Iraqi law was suspended, and Iraq basically became a free fraud zone," says Alan Grayson, a Florida-based attorney who represents whistleblowers now trying to expose the corruption. One CPA official was given nearly $7m and told to spend it in seven days.