Home
"The theft of the century" opens the file of looted Iraqi funds
[You must be registered and logged in to see this link.]
Thursday 20 October 2022 16:42
[You must be registered and logged in to see this image.]
This theft, which took place through more than 247 checks withdrawn from the "Rafidain" government bank, was described as "the theft of the century" (AFP)[/size]
[/rtl]
The announcement of the theft of two and a half billion dollars in insurance funds frightens citizens and observers: Who will hold whom to account?
[size][You must be registered and logged in to see this link.]
Thursday 20 October 2022 16:42
[You must be registered and logged in to see this image.]
This theft, which took place through more than 247 checks withdrawn from the "Rafidain" government bank, was described as "the theft of the century" (AFP)[/size]
[You must be registered and logged in to see this link.] received the announcement of the Minister of Finance who resigned from his position at the request of Parliament, Ihsan Abdul-Jabbar, about the largest theft in contemporary Iraqi [You must be registered and logged in to see this link.] from the secretariats of merchants contracting with the state and [You must be registered and logged in to see this link.] as insurances to be recovered after completing the projects, with astonishment. Iraqi dinars (about two and a half billion dollars) were acquired by a group described by observers as "corrupt", and with the open complicity of financial departments in the aforementioned body, as well as senior banking departments, and others whose identity has not been revealed.
The amount was transferred to five new banks established for this purpose, and they are, according to informed sources (the whale, the humpback, the creators, the Baghdad winds, and the evening desert), and this theft, which took place through more than 247 checks withdrawn from the “Rafidain” government bank, was described as "The theft of the century", and its papers are still unfolding without announcing the partisan and political parties behind it.
How was the century stolen?
Several Iraqi sources concluded that it was a tight work that was carried out with the complicity of higher authorities that provided the government cover for it, as the money was withdrawn from an account in the “Al-Rafidain” Bank called (the Trust Account) and its money is deducted from any company that contracts with the Iraqi state as a guarantee to pay income tax later. And to ensure the integrity of the implementation of the contract, and the depositing company has the right to recover the amount with a written request to the Tax Authority, subject to regulatory and accounting audits, after completing its work, implementing the contract, handing over the project finally and paying all dues.
[rtl]read more[/rtl]
- [You must be registered and logged in to see this link.]
- [You must be registered and logged in to see this link.]
- [You must be registered and logged in to see this link.]
The recovery of the insured amount is often through long, routine and complex procedures that make the owners of companies contracting with the state despair about the possibility of recovering those funds, according to the description of the researcher, Ghazi Rahho. An additional reason is that the company did not implement the contract accurately, as researcher Hamid Al-Saadi assures us.
The Iraqi state record indicates that the former Prime Minister Haider al-Abadi requested in February 2017 through his office that an audit be conducted to return the sums of trusts through the Governmental Financial Supervision Bureau, but the matter changed for reasons that the currently formed investigative committee is ignorant of. The House of Representatives asked the Minister of Finance to limit the audit process to the Tax Authority exclusively without the participation of the Financial Supervision Bureau, which is the discreet and expert body in financial auditing. Remarkably from the Prime Minister’s office this time during the same month, as the head of the Tax Authority insisted on limiting the supervisory audit to the authority, which is the number one implicated in this case, to start later withdrawing those funds to the account of the five banks, and then Haitham Al-Jubouri was appointed as a financial advisor to the prime minister .
MP Basem Khashan, adviser to the caretaker prime minister and former head of the Finance Committee in Parliament, Haitham al-Jubouri, is accused of what he described as "covering up the theft of tax deposits", and that he is the author of the proposal to audit the disbursement of trust funds by the General Tax Authority, a proposal that formed the cover that the commission was hoping for. .
The deputy said, "The Chairman of the Finance Committee was appointed as an advisor to the Prime Minister, perhaps to complete what he started in the House of Representatives. All those involved in this crime, perhaps one of the biggest thefts in history, will be held accountable," he said.
The government advisor
But Haitham al-Jubouri justifies his proposal by saying, "If I returned as chairman of the Parliamentary Finance Committee ten times, I would have done the same, because I am convinced of the principle that whoever monitors should not participate in the implementation, and my connection to the project is limited to being a legislator and observer who can propose what he sees, and whoever goes to the proposal has the right to accept." or rejection).
The accusations also targeted general managers in the state, as confirmed by researcher Ghazi Rahho, and the completion of the withdrawal of funds was accompanied by the resignation of the Minister of Finance after announcing the longest speech in the history of resignations in the country, indicating the indicators of the collapse of the Iraqi economy and its achievements as a minister at the same time, which provoked Iraqi public opinion and specialists’ criticism of his speech Who is devoid of diagnosing the withdrawals of those funds through one of his departments and under his responsibility.
This operation opened a long file of manifestations of corruption in Iraq, says former MP Mishaan al-Jubouri, who revealed that “the theft of two and a half billion dollars is only an episode of the series of thefts that preceded this major theft that took place during the period from September (September) 2020 until August 2021".
Al-Jubouri confirms that "the matter actually goes back to 2015, when the process of seizing insurance funds began in the tax and customs departments during the Abadi government, and the estimates of those in charge of the investigation, which came out in 250 pages, confirm that the amount stolen is fifteen trillion Iraqi dinars (equivalent to about ten billions of dollars),” he said.
Al-Kazemi refers to the judiciary
For his part, the outgoing Prime Minister, Mustafa Al-Kazemi, said, “The issue of funds withdrawn from the Tax Authority in the Ministry of Finance calls for standing up to the climates that helped spread corruption in the joints of that body, and participated in providing a cover for the attack on public money, which are matters that go beyond Omar’s life. The current government, my government has previously discovered this breach based on data and indications that indicate it, so it hastened to open investigations and move forward with the necessary legal procedures in cooperation with the judiciary, and all evidence and documents were handed over to the court months ago.”
Al-Kazemi, who did not indict a specific party, adds, “We confirm that this government has followed the legal procedures in place by the relevant authorities in the Integrity Commission and the Specialized Judiciary, and provided all documents, evidence and clues that contribute to uncovering the truth and knowing the aggressors on public money.” The Prime Minister was severely criticized by the media, which thought that he would reveal the political parties behind the largest open economic crime in the history of Iraq.
What can the Sudanese do?
The newly elected Prime Minister, Muhammad Shiaa al-Sudani, faces this file amid an uproar of public opinion calling for retribution for the perpetrators and the recovery of the looted money.
However, researcher Mazen Sahib Al-Shammari believes that “any attempt to apply the law to the quota parties means removing the Sudanese or those who are trying to address this file, because political and societal corruption is a structural system called quotas protected by political money and the weapon of militias in order to perpetuate the state of the state.” He wondered, “there are more Out of twenty thousand corruption files, if you open who will be prosecuted?
Many researchers and activists sought to know the parties involved in this theft, which all sources indicate that two armed parties facilitated its procedures without mentioning their identities, due to the lack of written documents to prove this.
Economic experts confirm that the total Iraqi revenues for the period that were counted between 2003-2020 amounted to one trillion and one hundred and nine billion US dollars, at a time when the total expenditures for that period amounted to 998 billion and 632 million dollars, meaning that there is savings in the state treasury amounted, according to the latest study of the Chairman of the Committee Studies, statistics and accounting in the Iraqi Forum for Elites and Competencies Hamid Shukr, 110 billion and 166 million dollars, an amount sufficient for the reconstruction of Iraq from north to south, as he claimed, but it evaporated.
Shukr says that Iraq witnessed what can be described as an assassination of public money by evading the payment of taxes, customs fees and state debts, and the waste and corruption that took place in public expenditures. He accuses the Iraqi Ministry of Finance during the era of Ali Allawi, who resigned months ago, of being behind this.
[You must be registered and logged in to see this link.]
» utube 6/26/24 MM&C IQD Update-Iraqi Dinar-2024 Budget Deficit is Hypothetical-
» Iraq's oil exports to America increased within a week
» Construction defines the goal of the Ali Al-Wardi City project.. How many paragraphs does it include
» Services Iraqis "want" to live in Kurdistan... Cheap housing and security are available
» Iraq's agriculture flourishes again.. Farmers fight drought and the Gulf "melts" its crops
» Planning announces the conclusion of five contracts to implement service projects in two governorate
» Amin Al Iraq Bank: We were unable to increase our capital
» Launch date of the electronic visa program for foreign workers in Iraq
» Najaf resumes work on the electronic system
» Al-Hakim: The revolution of the 1920s established the foundation for building a modern state away fr
» Al-Sudani: We are keen to provide decent means of living and issue directives and legislation, the l
» Al-Bujari announces the imminent reopening of Al-Wasiliyah Port in Basra
» Basra Council announces receipt of 2024 projects plan
» Today.. Announcing the winning investor of the "Baghdad Metro"
» Foreign Ministry rejects US statements against the head of the Judicial Council
» A conference to present investment opportunities for mining and industrial cities
» Iraq ranks seventh in the world in sustainable development
» The Prime Minister launches a package of development projects in Al-A'dhamiyah
» Accelerated government steps to attract investment
» Next August is the date for completing the finishing works of the {immersed tunnel}
» Exceptional measures to relieve the displaced
» Provincial council election employees without pay
» Official commendations for the excellence of competencies in the media network
» For the investment to be fruitful
» Planning: Markets are “stable” and food security has improved due to the food basket
» Al-Mandlawi: Congress's draft law against the head of the judiciary is an attack on Iraq's sovereign
» Despite service spending and budgets, a visual area devoid of schools, roads, and health facilities
» Unsound profit-making projects are being “blackmailed” by officials.. Private universities in Iraq “
» Strategic position: Iraq ranks 11th among the countries most affected by terrorism
» Kurdistan Finance announces sending payrolls of the region's employees to Baghdad for the month of J
» Is the Sudanese government serious about expelling the Americans?
» MP identifies positive points in Chinese agreement: “best for Iraqi economy”
» Quotas and the position of the president.. “Achilles’ heel” increases the yield of the “lean seven”
» The Kuwaiti Mubarak Port is economically useless without a railway port through Iraq
» Planning: Granting the job number to more than 3 million and (600) thousand employees
» Sudanese directs the establishment of museums for national and cultural symbols
» Al-Sudani: The Iraqi press played an important role in difficult times
» Iraq transfers $1 billion abroad in a week
» Al-Sudani announces the allocation of 182 billion dinars to expand Abu Hanifa Mosque
» An increase in Iraq's oil exports to the United States
» Stability of green currency prices in Baghdad
» Bar Association: The American targeting of the judiciary confirms its Iraqi national commitment
» Launching an increase in salaries for retired workers in July... and stopping health care coverage t
» The beginning of a long negotiation process.. Baghdad hosts an "expected" Syrian-Turkish meeting
» The Najaf Court of Appeal begins electronic work with the systems for issuing legal arguments and di
» Al-Sudani announces the allocation of land to establish a residential complex for the journalistic f
» Economist reveals the main factors that influenced the implementation of the Maronites
» The energy equation: simple calculations and complex facts... turbine burden and transportation and
» Fake travel companies steal Iraqis' dreams and leave them in a spiral of frustration
» New Electricity Law and Its Intractable Problems
» Starting the procedures for converting agricultural buildings into residential buildings in Anbar
» Parliamentary Communications: Korek is delaying payment of its debts to the state
» Parliamentary Committee Reveals Reasons for Obstructing Oil and Gas Law
» A representative from Basra calls for activating the Iraqi-Chinese agreement
» Al-Tamimi warns of the fourth Turkish invasion of northern Iraq
» Investment: Iraq has become an important economic destination in the region
» Danger Threatens Iraq.. Civil Organizations Launch Awareness Campaign to Combat Drugs in Erbil (Phot
» Baghdad goes into a state of alert... information about a threat to target water projects with “pois
» The dollar opens the week slightly higher in Baghdad and Erbil
» "100,000 foreigners"... Oil companies manipulate the law on employing Iraqis
» Baghdad sends an “important” invitation to generator owners regarding operating prices
» The US State Department offers a $5 million reward for information about the “Crypto Queen”
» The Prime Minister visits the city of Adhamiya and launches a group of service projects to develop i
» Iraq is coordinating with 24 countries to recover nationals of the “most dangerous camp”... 45 thous
» Baghdad complains about "landfills" and tops the list of "polluted air"
» Investment and service projects turned into a source of funding for parties: Security forces failed
» 9-point incentives for greater change in “agricultural patterns” in Iraq
» "Wanted" by the Iraqi judiciary.. How will the government deal with the next US president?
» Connecting Iraq to Saudi Arabia.. Al-Amar announces the completion rates of the land Hajj route
» Al-Muthanna... Integrity monitors waste in transportation projects
» Energy Police announces the final elimination of oil derivatives smuggling
» Al-Sudani: Iraq is a safe and attractive environment for capital
» Parliamentary Committee: Service institutions in Iraq are “incapable” of service
» Minister of Justice announces the imminent granting of electronic bonds to citizens in the real esta
» Work: The salary of the full-time appointee for the month of June will be paid early next week
» Report: A new political initiative to resolve the crisis of the position of Speaker of Parliament
» MP Alia Nassif withdraws from Maliki's coalition
» Formation of a government committee to respond to the UN human rights report
» Sudanese launches a group of service projects in the Adhamiya area
» The Sudanese advisor confirms the state’s adoption of providing sovereign guarantees for private sec
» At a rate of 3.5 million liters... the start of super gasoline production in the northern refineries
» The exchange rates of the dollar against the dinar in Iraq today
» A new development “undermines” the justification for raising prices.. Will super gasoline be reduced
» The Parliamentary Committee for Displaced Persons confirms the “impossibility” of closing the displa
» Will the state adopt the provision of sovereign guarantees to finance private industrial projects?
» Why did Bitcoin start a new downward path?
» MM&C Central Bank: Cancellation of Paragraph (5/d) of the instructions and standards for circulation
» Austria supports deportation of immigrants, including Iraqis, to their country
» Parliamentary Oil Committee comments on the failure of producing provinces to receive petrodollar du
» Al-Badri: The Aqaba pipeline represents a reward for American companies
» Al-Lami: Parliament is dying because of the Sunni parties
» The second within a week.. The Council of Ministers issues decisions related to investment, heritage
» Integrity monitors waste by building residential homes in a company affiliated with the Ministry of
» Al-Awadi: The Council of Ministers approves contracts with private sector companies to supply energy
» As a result of the security prosecution...a parliamentary committee indicates a decrease in oil smug
» Iraq announces the inclusion of 3,500 workers in optional social security during 2024
» Al-Sudani's advisor gives good news to young people: Many job opportunities await you
» The President of the Republic approves the 2024 Budget Law schedules