Iraq opens investigation into theft of $2.5 billion of gov't funds

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Iraqi officials announced on Sunday that Baghdad's authorities have opened an investigation into the theft of $2.5 billion from the General Commission of Taxes account.

Iraq's official news agency published on Saturday a request sent by the Finance Ministry to the Integrity Board, which is a government committee that fights corruption. Authorities did not reveal the identities of those involved.

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The official request, dated October 12, discusses a theft of 3.7 trillion Iraqi dinars (close to $2.5 billion) from the General Commission of Taxes' account at Rafidain Bank.

Prime Minister Mohammad Shia Al-Sudani tweeted that this matter has been made one of the government's top priorities, adding that he will not allow the Iraqi people's money to be stolen."

لنْ نتوانى أبدًا في اتخاذ إجراءات حقيقية لكبح جماح الفساد الذي استشرى بكلِّ وقاحة في مفاصل الدولة ومؤسساتها.
وضعنا هذا الملفَّ في أول أولويات برنامجنا، ولنْ نسمحَ بأن تُستباحَ أموال العراقيين، كما حصل مع أموال أمانات الهيئة العامة للضرائب في مصرف الرافدين.

— محمد شياع السوداني (@mohamedshia) October 16, 2022

Details reveal that the $2.5 billion were withdrawn in the period between September 9, 2021, and August 11, 2022, by five companies who cashed cheques that add up to that amount.

Finance Ministry investigation concludes that $2.5 BILLION dollars was effectively stolen from its General Commission of Taxes account at Rafidain Bank by 5 companies from Sep '21 to Aug'22 who cashed cheques they were not entitled to pic.twitter.com/mlInq4EiXm

— Sajad Jiyad سجاد (@SajadJiyad) October 15, 2022

The Integrity Board announced that it has opened an investigation into the case, adding that senior officials in the ministry have been called for questioning regarding the gaps that led to this egregious misappropriation of public funds.