"Theft of the Century": about IQD 3.8 trillion (about $2.5bn) withdrawn from the General Commission for Taxes trust deposits at Rafidain Bank (from 2021 to 2022)
Foreign and local companies deposit guarantees with the General Commission for Taxes (GCT), refundable after tax settlement. Between 9 September 2021 and 11 August 2022, 247 cheques drawn on the GCT account at state-owned Rafidain Bank paid about IQD 3.7 trillion (about $2.5bn at the time) to five "follow-up" companies, several created in 2021, using forged claims; the cash was withdrawn immediately. The Supreme Judicial Council put the total withdrawn by all companies at IQD 3,831,370,882,000. Businessman Nour Zuhair Jassim, whose two companies (al-Qanit and al-Mubdi'un) owed IQD 1.618 trillion, was arrested in October 2022 and released on bail against repayment; after he left Iraq, the Karkh anti-corruption criminal court sentenced him in absentia (25 November 2024) to 10 years, Raed Jouhi (ex-director of PM Kadhimi's office) to 6 years and ex-MP Haitham al-Jubouri to 3 years. By July 2026 only IQD 365bn had been recovered from Nour Zuhair's companies; his lawyer's request to benefit from the 2025 amnesty amendment against repayment awaited Finance Ministry approval.
- Period
- From September 2021 to July 2026
- Sector
- Tax, customs and portsTax trust deposits (أمانات ضريبية), Ministry of Finance
- Kind of case
- Criminal prosecution
- Jurisdiction
- Federal Iraq
How the money moved
Fraudulent refund claims on tax trust deposits were approved inside the GCT and paid by cheques at a Rafidain Bank branch to front companies, then cashed out and moved into property, cars and abroad; audit safeguards had been relaxed in 2021.
What happened
Convictions in absentia of the principal accused (2024); in-person convictions of 12 tax officials and of facilitators; assets confiscated in Iraq and Kuwait; about IQD 365bn recovered from the main accused by mid-2026; PM-level investigation closed. Amnesty-for-repayment route open under the January 2025 amnesty amendment.
Open questions
- Where is the remaining about IQD 3.4 trillion? Full list of the five companies and beneficiaries.
- Why did the Board of Supreme Audit stop auditing deposit refunds in 2021 (as reported by The National)?
- Status of extradition requests (Interpol) for Nour Zuhair, Jouhi, al-Jubouri.
- Role of the Finance Ministry's leadership in the 2021 approvals.
People and companies
| Name | Role in the case | Legal status | Detail | As of |
|---|---|---|---|---|
| Twelve General Commission for Taxes employees (unnamed) اثنا عشر موظفاً في الهيئة العامة للضرائب | Officials who processed withdrawals | Convicted | Convicted in person and serving sentences; may benefit from the amnesty amendment only after paying compensation set by the Finance Ministry (Supreme Judicial Council 10 July 2026). Media: included a former GCT director-general and deputy. | 25 September 2026 |
| Managing directors of Ansar al-Raya wal-Fawaris and Mizan al-Iraq companies (unnamed) المديران المفوضان لشركتي أنصار الراية والفوارس وميزان العراق | Withdrawing companies | Convicted | 10 years each for laundering embezzled deposits abroad (Central Criminal Court for Combating Corruption, 18 February 2026). | 25 September 2026 |
| Nour Zuhair Jassim نور زهير جاسم | Businessman; owner of al-Qanit and al-Mubdi'un companies | Convicted in absentia | Arrested at Baghdad airport October 2022; released on bail against repayment; new arrest warrant August 2024 after failing to appear; sentenced in absentia to 10 years (Karkh anti-corruption criminal court, 25 November 2024); Interpol recovery file; request to benefit from the amended amnesty law pending Finance Ministry approval (Supreme Judicial Council, 10 July 2026). | 25 September 2026 |
| Raed Jouhi (Raid Juhi) رائد جوحي | Director of PM Mustafa al-Kadhimi's office; former judge | Convicted in absentia | Sentenced to 6 years (25 November 2024); Supreme Judicial Council (July 2026) refers to in-absentia sentences for the then PM office director with recovery files. | 25 September 2026 |
| Haitham al-Jubouri هيثم الجبوري | Former MP; adviser to PM Kadhimi (according to media) | Convicted in absentia | Sentenced to 3 years (25 November 2024); media report Interpol help sought to track him (in absentia). | 25 September 2026 |
| Al-Qanit Company شركة القانت | Nour Zuhair company | Accused by an official body | Named by the Supreme Judicial Council (10 July 2026) as one of the two companies of the convicted Nour Zuhair through which deposits were withdrawn; owes part of IQD 1.618tn. No separate corporate conviction is on record. | 25 September 2026 |
| Al-Mubdi'un Company شركة المبدعون | Nour Zuhair company | Accused by an official body | Named by the Supreme Judicial Council (10 July 2026) as one of the two companies of the convicted Nour Zuhair through which deposits were withdrawn; owes part of IQD 1.618tn. No separate corporate conviction is on record. | 25 September 2026 |
| Mustafa al-Kadhimi مصطفى الكاظمي | Prime Minister (from May 2020 to October 2022) | Charges dropped or case closed | Supreme Judicial Council: he was investigated and the investigation was closed for insufficient evidence (statement of 10 July 2026). | 25 September 2026 |
Sources
- Supreme Judicial Council (Media of the judiciary)25 November 2024Court judgmentTier A
The Karkh Criminal Court for Combating Corruption Adjudicates the cases of tax deposits
OriginalArchived copyissuing sentences of ten years in prison against the accused Noor Zuhair, six years in prison against the accused Raed Juhi
- Supreme Judicial Council (إعلام القضاء)18 February 2026Court judgmentTier A
السجن عشر سنوات بحق مديرين مفوضين لشركتين عن جريمة اختلاس مبالغ مالية
OriginalArchived copyاختلاس مبالغ مالية ناتجة عن سرقة الامانات الضريبية
- Supreme Judicial Council10 July 2026Government statementTier A
توضيح (clarification on the tax deposits case)
OriginalArchived copyويجب استحصال موافقة الوزير على آلية تسديد المبالغ المترتبة بذمة المحكوم بحسب قانون تعديل قانون العفو
وتم إجراء التحقيق مع رئيس الوزراء الذي حصلت خلال فترة حكومته هذه الجريمة، وتم غلق التحقيق بحقه لعدم كفاية الأدلة
- The Guardian (Simona Foltyn)20 November 2022Press reportTier D
"Heist of the century": how $2.5bn was plundered from Iraqi state funds
OriginalArchived copyThe theft of $2.5bn was apparently facilitated by some of the highest offices in the land
- Associated Press (via The Independent)21 November 2022Press reportTier D
Auditors in Iraq uncover staggering $2.5 billion tax fraud
OriginalThe payments were made through 247 checks cashed between Sept. 9, 2021 and Aug. 11 of this year
- The National (Sinan Mahmoud)28 November 2022Press reportTier D
Iraqi leader admits that only fraction of $2.5bn stolen from government has been recovered
OriginalThe competent authorities have been able to retrieve a first tranche amounting to 182.6 billion Iraqi dinars
- The National (Sinan Mahmoud)27 August 2024Press reportTier D
Arrest warrant issued for main accused in Iraq's "heist of the century"
OriginalNoor Zuhair Jassim was arrested at Baghdad International Airport in late 2022
- The National (Sinan Mahmoud)25 November 2024Press reportTier D
Mastermind of Iraq's "heist of the century" sentenced to 10 years in prison
OriginalA former legislator, Haitham Al Jubouri, was sentenced to three years in jail.
- Arabic Wikipedia25 September 2026Press reportTier D
سرقة القرن في العراق
Originalوأظهرت التحقيقات الحكومية صرف الأموال لمصلحة خمس شركات بواسطة 247 صكًا