Mastermind of Iraq’s 'heist of the century' sentenced to 10 years in prison

A Baghdad court on Monday sentenced the mastermind of Iraq’s “heist of the century”, in which billions of dollars were stolen from the state, to 10 years in prison.

Businessman Noor Zuhair Jassim was sentenced in his absence and remains at large. The case, which has captivated the public for two years, centred on about $2.5 billion being taken from Iraq's General Commission for Taxes, a department of the Ministry of Finance.

The money was fraudulently paid to five companies by the commission using 247 cheques between September 2021 and August 2022. The funds were taken from the commission's account at the state-run Rafidain Bank, a government investigation found.

It was deposited by trading companies and people as a guarantee to pay taxes after finishing projects commissioned by the government or importing goods. Those who deposited the money could later apply to withdraw what was left, after deducting tax.

After failing to appear in front of judges four times, Jassim was convicted and sentenced by Al Karkh Criminal Court, Iraq’s Supreme Judicial Council said.

The court also sentenced Judge Raid Juhi, who presided over Saddam Hussein's trial and was a director of former prime minister Mustafa Al Kadhimi's office, to six years in prison. A former legislator, Haitham Al Jubouri, was sentenced to three years in jail.

The Supreme Judicial Council also said “several employees involved in the crime” were given six-year terms. Politician Mustafa Sanad, who attended the trial, said 10 employees were sentenced, including a former general director of the General Commission for Taxes and his deputy.

The court ordered the confiscation of assets belonging to Jassim, Juhi and Al Jubouri, Mr Sanad added. Iraq will ask Interpol to help track down the three men.

The case was announced in October 2022 by Ihsan Abdul Jabbar, Iraq’s acting finance minister and oil minister at the time. Shortly afterwards, Jassim was arrested at Baghdad International Airport as he attempted to leave the country on a private jet. He later admitted to stealing 1.618 trillion Iraqi dinars ($1.23 billion) and returned 182 billion dinars.

He was released on bail after an agreement was reached with the court to return the full amount. But he later left Iraq and remains at large.

Jassim, 44, in an interview with an Iraqi satellite TV channel in August, said he acted as a debt buyer. He said the withdrawal of the money was based on genuine authorising letters from companies that wanted to avoid the long bureaucratic process of claiming the funds.