Arrest warrants issued in Iraq's 'Theft of the Century' scandal
The case involves the misappropriation of a staggering 3.7 trillion Iraqi dinars (equivalent to $2.5 billion) from tax security deposits.
ERBIL (Kurdistan24) – On Tuesday, The Iraqi Anti-Corruption Criminal Court issued arrest warrants for two key suspects implicated in the infamous "Theft of the Century" embezzlement case: Noor Zuhair and Haitham al-Jubouri.
The case involves the misappropriation of a staggering 3.7 trillion Iraqi dinars (equivalent to $2.5 billion) from tax security deposits. This massive scandal was exposed shortly before the previous government, led by Prime Minister Mustafa al-Kadhimi, left office.
Noor Zuhair: A Central Figure on the Run
Noor Zuhair, chairman of a company entangled in the embezzlement scheme, was initially arrested but later released on bail. Iraqi Prime Minister Mohammed Shia al-Sudani recently reported that only a fraction (5%) of the stolen funds have been recovered so far.
Zuhair, who also goes by the names Noor Zuhair Jassem al-Muthaffar and Abu Fatima, has a history of working in Iraqi ports and served as an advisor to the former chairman of the Parliamentary Finance Committee.
He is known to possess considerable wealth, including over 20 luxury properties in Baghdad and various financial assets and businesses.
His initial arrest occurred while he was attempting to flee the country on a private jet from Baghdad International Airport. He stands accused of being a central player in the embezzlement operation.
Despite being scheduled to appear before the Central Criminal Court in Baghdad on August 27th, Zuhair failed to attend. Sources indicate he is currently in the UAE after a brief stay in Beirut, Lebanon.
Last year, PM al-Sudani revealed that Zuhair allegedly distributed portions of the stolen funds to influential figures, including politicians and media personalities, raising suspicions that the total amount embezzled might be even higher than initially estimated.
Haitham Al-Jubouri: Former Advisor Implicated
Haitham Al-Jubouri, the second suspect facing an arrest warrant, was apprehended by a special anti-corruption force on November 30, 2022.
His arrest was triggered by evidence of unexplained and illicit wealth accumulation, along with confessions from Noor Zuhair.
Al-Jubouri was later released on bail in early 2023 as investigations into his involvement in the embezzlement and illicit enrichment continued.
Notably, he has previously served as a financial advisor to former Prime Minister Mustafa al-Kadhimi, in addition to holding positions as a former parliament member and the parliamentary finance committee chairman.
Legal Ramifications and the Pursuit of Justice
Legal expert Ali al-Tamimi highlighted the gravity of the charges, explaining that the penalty for such crimes could lead to up to ten years in prison.
He emphasized that if the accused continue to evade court appearances, the Criminal Court may revoke their bail and proceed with trials in absentia. In such cases, Interpol may be called upon to assist in apprehending the fugitives.
The issuance of these arrest warrants signals a renewed commitment by Iraqi authorities to bring those responsible for the "Theft of the Century" to justice and recover the stolen funds.
The case continues to unfold, with potential implications for high-ranking officials and influential figures who may have benefited from the embezzled money.
Judge Diaa Jaafar of the Karkh Investigative Court, specializing in integrity cases stated that Noor Zuhair's release on bail aligns with legal procedures, given his agreement to repay the embezzled funds.
He denied claims that the release aimed to enable property sales, stressing that all assets remain seized.
Zuhair will face formal charges once full restitution is made. Repayment might be considered a mitigating factor in sentencing.
The court approved the settlement due to the lack of legal obstacles and the potential challenges in recovering funds after conviction.
Given Zuhair's significant assets, the risk of him fleeing is low. His seized assets act as a guarantee for the state.
Judge Jaafar encouraged companies accused of embezzlement to return stolen funds, emphasizing that this will likely result in lighter sentences.
He reaffirmed the commitment of the judiciary and law enforcement in pursuing all accused companies, with investigations already underway and efforts to recover funds moved abroad ongoing.
