Oregon Public Broadcasting

A Portland-area Army captain has been accused of stealing almost $700,000 in Iraqi reconstruction money. April Baer reports.

The 1999 film Three Kings tells a fictional story about soldiers in the Iraqi desert, planning a heist.

Movie Audio: "What do you you see in there?"
"Bunkers, Sir."
What do you see in those bunkers?"
"Stuff they stole from the Kuwaitis."
"I'm talking about millions in Kuwaiti bullion."

In the film, the soldiers have second thoughts, and end up doing the honorable thing.

Movie Audio: "Let's just stick to the plan, the plan is for the gold, right?"
"We can help these people first, then we'll be on our way."

Prosecutors paint a picture of Captain Michael Nguyen's conduct that's nowhere near as heroic. Standing on the steps of the federal courthouse in Portland Thursday, U.S. Attorney Karin Immergut explained  the charges against Nguyen.

Karin Immergut: "What's alleged in the indictment, he took bulk cash he was responsible for paying to the Iraqi citizens as humanitarian aid in Iraq and sent it to the US in boxes, then put it in various bank accounts."

Immergut says Nguyen turned himself in after a series of raids that netted cars, guns, even Scandinavian furniture.

Investigators accuse Nguyen of trying to launder the money by buying those things. Immergut says much of the cash has been recovered, but the money paid for consumer goods may never be recouped.

Nguyen entered a plea of not guilty. He was released after the hearing, and his attorney indicated Nguyen would return to his base, Fort Lewis.

A spokesman there said Nguyen would not face separate charges under military justice, and said the soldier is considered innocent until proven guilty.

It's not clear if Nguyen's status or work on the base will change as a result of the charges. His trial is scheduled for May.