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The Iraqi government says it will recover some of the nearly $2.5bn (£2.05bn) of funds misappropriated from the country’s tax authorities in a massive scheme involving a network of businesses and officials.
Prime Minister Mohammad al-Suldani’s office said in a statement that it would recover some 182 billion Iraqi dinars, or £103 million, by confiscating the property and assets of a close businessman who was complicit in the corruption scheme of the stolen amount.
The recovered monies were paid to Noor Zuhair Jassim, a businessman who was arrested in connection with the scheme with officials from the government’s tax authority for withdrawing funds from a tax deposit account between September 2021 and August 2022. catch.
Mr Al-Sudani stressed that the ongoing investigation will not spare anyone involved in the scheme and that the government is working to recover the full amount stolen.
The statement added that Mr Jassim admitted to holding the misappropriated funds. Mr Al-Sudani also said that the investigation was ongoing and other people involved had been identified.
Mr Jassim was arrested at Baghdad International Airport in late October. He was named CEO of two of the five shell companies through which funds were stolen. Mr. Jassim received more than $1 billion in funds from the account, according to an internal audit report reviewed by The Associated Press.
Officials said an embezzlement scheme of this magnitude was unlikely to unfold without the knowledge of those at the top.
Political factions in Iraq have long vie for control of ministries and other government agencies, which they use to offer jobs and other benefits to their supporters. Many factions are associated with different government agencies involved in tax planning.
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