Three former Army officers and two civilians have been indicted for diverting $3.6 million in Iraq reconstruction money to a contractor in exchange for cash, luxury cars and jewelry. The announcement came one day after the House Committee on Oversight and Government Reform held a hearing about how billions of dollars set aside for the Iraq Reconstruction have gone missing. Corpwatch Managing editor Pratap Chatterjee attended the hearing. He joins us from Washington. [includes rush transcript]

The Justice Department has indicted three former Army officers and two civilians. They are accused of diverting $3.6 million in Iraq reconstruction money to a contractor in exchange for cash, luxury cars and jewelry. The announcement came one day after the House Committee on Oversight and Government Reform held a hearing about how billions of dollars set aside for the Iraq Reconstruction have gone missing. The committee’s chair Henry Waxman questioned Paul Bremer, former Administrator of the Coalition Provisional Authority.

• Rep. Henry Waxman, questioning Paul Bremer, former Administrator of the Coalition Provisional Authority.

Earlier in the hearing Paul Bremer admitted errors had been made during his time as Administrator of the Coalition Provisional Authority. Investigative journalist Pratap Chatterjee attended Tuesday’s hearing and joins us now from Washington, D.C.

• Pratap Chatterjee. Managing editor of CorpWatch and author of “Iraq, Inc.: A Profitable Occupation.”