Blackwater Worldwide adopts fresh image to seek funds [View All]

[maddezmom]

Blackwater Worldwide, the private security firm accused of killing 17 civilians in Baghdad, is seeking a financial backer after talks with Cerberus Capital fell through.

The North Carolina-based private army said that it needed financing to expand its operations and is thought to be looking for about $200 million (£100 million).

Blackwater has become the highest profile of the private security companies (PSCs) operating in Iraq after a number of fatal incidents involving its armed guards.

In 2004 four of its American contractors were captured in Fallujah and their bodies were mutilated before being hung from a bridge. This was the catalyst for an invasion of the city by US Marines.

more:http://business.timesonline.co.uk/tol/business/industry_sectors/support_services/article3857563.ece