ERBIL, Kurdistan Region - Iraq said a suspect wanted in connection with the embezzlement of trillions of dinars in a case dubbed the “heist of the century” is in custody and four others have been detained in neighbouring countries.
“The suspect, Qasim Muhammad Muhammad, was handed over to us last night from the Kurdistan Region,” Haider Hanoun, head of the Iraqi integrity commission, said in a press conference on Thursday, thanking the interior ministries of the Kurdistan Region and Iraq for their cooperation to help capture the suspect.
Muhammad is accused of embezzling nearly one trillion Iraqi dinars by using fake cheques in the names of nonexistent companies to withdraw money.
In October 2022, a finance ministry investigation concluded that 3.7 trillion dinars (around $2.8 billion) in tax revenue were stolen from the Rafidain Bank account of the General Commission of Taxes between September 2021 and August 2022.
More than 48 individuals are accused of being involved in the "heist of the century." Some of the suspects have been arrested in neighbouring countries and Iraq has made formal extradition requests for their return to face trial.
“The suspect Muhammad Falah Abdullah was arrested in the Emirates [United Arab Emirates],” Hanoun said.
According to Hanoun, another suspect, accused of stealing over 2.2 trillion dinars, has been arrested by Lebanese Interpol. Two others were arrested by Kuwaiti authorities and are accused of having embezzled 124 million dinars and are being returned to Iraq.
In August 2023, Iraq called on the United States and the United Kingdom to extradite government officials accused of theft of tax funds. A Baghdad court issued arrest warrants in March for four senior officials from former Prime Minister Mustafa al-Kadhimi’s government who reportedly reside outside the country. Hanoun at the time said that Interpol had issued Red Notices for the suspects, requesting law enforcement bodies worldwide to locate and provisionally detain them pending extradition.
Hundreds of millions of the embezzled money have been recovered. Prime Minister Mohammed Shia’ al-Sudani in October 2022 pledged that, “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.”
Iraq is one of the most corrupt countries in the world, according to Transparency International, which ranked it 154 out of 180 nations in 2023.
