Sudani announces retrieving over 180 billion IQD stolen from tax funds

ERBIL, Kurdistan Region - Iraqi Prime Minister Mohammed Shia’ al-Sudani announced on Sunday that over 180 billion Iraqi dinars has been retrieved from what was dubbed the “theft of the century,” adding that all parties involved will be revealed following the completion of investigations.

An investigation by the Iraqi finance ministry in October concluded that $2.5 billion in tax funds were stolen from the General Commission of Taxes’ account at Baghdad's Rafidain Bank between September 2021 and August 2022, during the tenure of former finance minister Ali Allawi.

In a televised speech on Sunday, Sudani said that relevant authorities have been able to retrieve around 182.7 billion IQD (over $125 million) from the money stolen, adding that the amount was recovered from one of the case’s main suspects, Noor Zuhair Jassim.

Jassim, the managing director of an oil services company, was arrested late October by security forces as he was attempting to flee the country from Baghdad International Airport.

Jassim has admitted to embezzling 1.618 trillion IQD (over $1.1 billion), stated Sudani, noting that the suspect will be released on bail to facilitate the payment of the remaining sum of money within two weeks.

The Iraqi premier said that investigations into the incident have identified parties responsible for facilitating the theft, including elements within the General Commission of Taxes and other supervising agencies, stressing that all those involved will be revealed once the investigations have been completed.

“We will not leave out anyone or any name or any party involved, regardless of who they are, and the parties involved will be announced after completing the investigation.”

Rampant corruption plagues all levels of the Iraqi state, and official figures published last year estimated that well over 400 billion dollars has gone missing from state coffers since former dictator Saddam Hussein's regime was overthrown in 2003.

The crisis-hit country ranks 157 out of 180 countries in Transparency International's corruption perceptions index.

Sudani announces retrieving over 180 billion IQD stolen from tax funds

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