In August 2002, the Israeli Military Intelligence Chief alleged that Arafat's personal wealth was in the range of US$1.3 billion. In 2003 the International Monetary Fund (IMF) conducted an audit of the PNA and stated that Arafat had diverted $900 million in public funds to a special bank account controlled by himself and the PNA Chief Economic Financial adviser. However, the IMF did not claim that there were any improprieties, and it specifically stated that most of the funds had been used to invest in Palestinian assets, both internally and abroad.