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Recovery of $ 30 million from Iraqi banks money laundering and fraud and embezzlement issues
Friday 0.11 September 0.2015
Announced integrity Court of economic crime in Baghdad, recovery of 36 billion dinars ($ 30 million) of 21 private banks, relating to the involvement of these banks in money laundering and embezzlement and manipulate exchange rates issues.
He said the first judge of the Court Radi Fartusi, in a press statement, "The court recovered finally 36 billion dinars from private banks (private) in favor of the Central Bank of Iraq, and these sums recovered from 21 banks represent 90% than in the edema of these banks to the central bank, added to the benefits of delay.
"He added that the private banks began to make payments after it was moving the complaints, adding "The judgments issued against the commissioners and members of the Board of Directors for private banks managers to convict them in those issues."
said Fartusi: "Despite the cessation of the legal representative of the central bank to move the complaint as a result pay back the money, but the Court continues to consider the case", pointing out that the complaints did not move by the central bank, but also of the Office of Financial Supervision as well.
The private banks file, one of the most complex files of corruption in Iraq, it has resulted in the decision of former Prime Minister Nuri al-Maliki involvement of banks in ensuring local and foreign invested or winning business contracts in the country's corporate operations , to large operations corruption, it pulled a lot of these companies after receiving the first installments of the price of projects without completion, while disavowed those banks of document security granted to those companies, and did not bear the consequences, as well as money laundering file and transfer out of Iraq.
Revealed Finance Committee in the Iraqi Parliament, last week, for the country's loss of about 360 billion dollars, because of corruption and money laundering, which took place nine years of operations, and in the period between 2006 and 2014, in which former Prime Minister Nuri al-Maliki ruled the country.
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Friday 0.11 September 0.2015
Announced integrity Court of economic crime in Baghdad, recovery of 36 billion dinars ($ 30 million) of 21 private banks, relating to the involvement of these banks in money laundering and embezzlement and manipulate exchange rates issues.
He said the first judge of the Court Radi Fartusi, in a press statement, "The court recovered finally 36 billion dinars from private banks (private) in favor of the Central Bank of Iraq, and these sums recovered from 21 banks represent 90% than in the edema of these banks to the central bank, added to the benefits of delay.
"He added that the private banks began to make payments after it was moving the complaints, adding "The judgments issued against the commissioners and members of the Board of Directors for private banks managers to convict them in those issues."
said Fartusi: "Despite the cessation of the legal representative of the central bank to move the complaint as a result pay back the money, but the Court continues to consider the case", pointing out that the complaints did not move by the central bank, but also of the Office of Financial Supervision as well.
The private banks file, one of the most complex files of corruption in Iraq, it has resulted in the decision of former Prime Minister Nuri al-Maliki involvement of banks in ensuring local and foreign invested or winning business contracts in the country's corporate operations , to large operations corruption, it pulled a lot of these companies after receiving the first installments of the price of projects without completion, while disavowed those banks of document security granted to those companies, and did not bear the consequences, as well as money laundering file and transfer out of Iraq.
Revealed Finance Committee in the Iraqi Parliament, last week, for the country's loss of about 360 billion dollars, because of corruption and money laundering, which took place nine years of operations, and in the period between 2006 and 2014, in which former Prime Minister Nuri al-Maliki ruled the country.
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