The Iraqi Anti-Corruption Criminal Court has issued arrest warrants for Noor Zuhair and Haitham al-Jubouri, who are implicated in the notorious “Theft of the Century” misappropriation case. According to local news agencies, this case involves the alleged embezzlement of a staggering 3.7 trillion Iraqi dinars, approximately $2.5 billion USD, from tax security deposits.
The scandal came to light shortly before the end of Prime Minister Mustafa al-Kadhimi’s administration. Noor Zuhair, previously a chairman of one of the companies implicated in the scheme, was initially arrested but later released on bail. Only 5 percent of the embezzled funds have so far been recovered, according to Iraqi Prime Minister Mohammed Shia Al-Sudani. Zuhair was subsequently apprehended again while attempting to flee the country on a private jet from Baghdad International Airport. Despite his vast wealth, including over 20 luxury properties in Baghdad, Zuhair failed to appear at a court session scheduled for August 27.
Haitham al-Jubouri, the second suspect, was detained in November 2022 by a special anti-corruption force. His arrest came after evidence of unexplained wealth and confessions from Zuhair. Al-Jubouri, a former financial advisor to the ex-prime minister Mustafa al-Kadhimi, was released on bail in early 2023 as investigations into his role continued.
The “Theft of the Century” scandal has highlighted the pervasive corruption in Iraq, with portions of the stolen funds allegedly distributed to influential figures, including politicians and media personalities. Consequently, there are growing concerns that the total amount embezzled could be significantly higher than initial estimates. The ongoing investigation aims to identify additional suspects and trace the stolen funds, which include efforts to recover assets moved abroad.
Corruption has posed a significant challenge in Iraq, undermining trust in public institutions. Despite various reform efforts, Transparency International ranks Iraq’s public sector as one of the 26 most corrupt in the world. The issuance of these new arrest warrants indicates a renewed effort by Iraqi authorities to address the corruption scandal and recover the misappropriated funds. Legal proceedings against Zuhair and al-Jubouri will be closely watched for further revelations regarding the extent of the embezzlement and the involvement of other figures.