Iraqi PM says “part” of stolen $2.5 billion in public funds retrieved

Iraq’s prime minister said they had recovered “part” of $2.5 billion in public funds that had been fraudulently withdrawn from a government account, and called on guilty parties to hand themselves in and return all the money.

PM Mohammed Shia al-Sudani stated that a wealthy businessman implicated in the theft from tax authorities had given back $125 million out of more than $1 billion that he “confessed” to have received.

Sudani added that businessman Nour Zuhair Jassem’s assets will be frozen and he will be released on the condition that the remaining funds be recovered within two weeks.

According to a document from the country’s tax authority, the massive sum was allegedly expropriated between September 2021 and August of this year via 247 cheques cashed by five businesses.

The money was then withdrawn from the companies’ accounts, according to the document.

Most of the owners of those accounts are on the run and are subject to arrest warrants.

“The competent authorities have been able to retrieve a first tranche amounting to 182.6 billion Iraqi dinars,” Sudani said, equating to more than $125 million.