The Escalating Crisis of Iraq's 'Theft of the Century'
The notorious case known as the 'theft of the century' in Iraq is making headlines once again, as the Government Integrity Commission reports a staggering increase in the number of defendants. Now, over 30 individuals are implicated in this massive corruption scandal, which has seen the stolen amounts double from initial estimates. The head of the Integrity Commission, Judge Haider Hanoun, disclosed that the total embezzled funds could exceed $8 billion, significantly more than the previously reported $2.5 billion.
Key Figures and Developments in the Case
Among those arrested is Qasim Muhammad, the authorized director of the 'Humpback Whale' company, who was apprehended in the Kurdistan region with 988 billion dinars (approximately $7 million) linked to his name. The Prime Minister has been closely monitoring the situation, pressuring the Tax Authority to provide an updated account of the stolen funds within 15 days. Observers emphasize the need for transparency as investigations continue, revealing that the full scale of the theft remains unclear, which hampers judicial proceedings.
A Broader Implication of Corruption in Iraq
This case, which surfaced during the tenure of former Prime Minister Mustafa Al-Kadhimi, highlights systemic corruption involving fake companies and fraudulent transactions amounting to 3 trillion and 750 billion Iraqi dinars. Former Integrity Commission head Judge Musa Faraj remarked that this incident is emblematic of a larger pattern of corruption in Iraq, suggesting that it should serve as a case study on the pervasive issue of graft in the country. As investigations unfold, the Integrity Commission is determined to recover the stolen assets and hold accountable not just the direct perpetrators but also those who enabled this massive fraud.
