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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    IRAQI EFFORTS TO RECOVER TWO BILLION "SMUGGLED" DOLLARS

    Rocky
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    • Post n°1

    IRAQI EFFORTS TO RECOVER TWO BILLION "SMUGGLED" DOLLARS Empty IRAQI EFFORTS TO RECOVER TWO BILLION "SMUGGLED" DOLLARS

    Post by Rocky Sun 14 Nov 2021, 7:14 am

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    Economie

    [size=38]IRAQI EFFORTS TO RECOVER TWO BILLION "SMUGGLED" DOLLARS[/size]


    Sunday, 14 November 2021 9:43 AM
    Baghdad/National News Center
    On Sunday, the Integrity Commission announced its quest to recover more than two billion dollars of smuggled Iraqi funds, in which court rulings were issued, as well as 14 real estate and 5 stakes in various companies.
    The Director General of the Recovery Department at the Authority, Moataz Faisal Al-Abbasi, said in a statement reported by Al-Sabah newspaper and reviewed by the National News Center, that “the authority has a database that classifies funds according to the functions and competencies of the recovery department under its federal law on corruption funds, and it is necessary to refer to the recovery mechanism.” Which begins with the issuance of a judicial decision that includes the damage to public money, and when it is proven that the convict or the wanted person has money in another country, it requests that it be seized by virtue of a request for legal aid, and when the request is responded to, the money is seized in that country, then it enters the third stage, which is filing lawsuits to get that money back.”
    Al-Abbasi added, "Those funds that have filed lawsuits to recover them amounted to 17.7 million dollars, while the authority was able to seize funds in various countries amounting to 4.17 million dollars, and work is underway to recover them, in addition to seizing 14 ) real estate and (5) stakes in different companies,” explaining that “the sums of which judicial rulings have been issued and are being worked on, amounted to approximately two billion and two hundred million dollars.”
    He explained that "the smuggled assets are divided into before 2003 and after that date, and the recovery department and the Iraq Money Recovery Fund are concerned with recovering them," noting that "financial assets dating back to before 2003 generally include money belonging to people or front companies that were put in place to circumvent sanctions. The international community, the financing of the former regime for security purposes, the financing of external activities and their use of carrots and sticks, such as protecting the regime and trying to implement its own policies outside Iraq.”
    Al-Abbasi pointed out that “these assets, whether they are money, real estate, or various assets, are within the jurisdiction and work of the Iraq Funds Recovery Fund, and they are funds classified by the law establishing the Fund as illegal funds, and relates to the time period before (2003), and the recovery department is concerned with funds.” Smuggled as a result of corruption, for which judicial rulings were issued after the establishment of the Integrity Commission and granting it this jurisdiction.”
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