Lebanon's central bank has located and secured $495 million in Iraqi funds, a US Treasury official said at congressional hearings on efforts to trace the billions of dollars that Saddam Hussein is thought to have hidden away. David Aufhauser, general counsel in the Treasury Department, said the disclosure by Lebanon on Tuesday is a sign of the progress being made in the worldwide search for Saddam's assets. Aufhauser told the House Financial Services oversight subcommittee that the assets in Lebanon apparently came from Iraq's central bank and other sources.
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