Iraq's 'Heist of the Century' Losses Rise to $5 Billion

The total value of the 'Heist of the Century' corruption case in Iraq has risen to 8 trillion Iraqi dinars, approximately $5 billion. Talib al-Baydani, a member of the Iraqi Parliament's Anti-Corruption Committee, confirmed that the number of suspects linked to the scheme has increased by roughly 30 individuals. The Anti-Corruption Committee is coordinating with the Federal Commission of Integrity to continue the investigation and recover the stolen funds. The case first emerged in late 2022, when it was discovered that $2.5 billion had been illicitly withdrawn from tax deposits. In November 2024, courts handed down prison sentences ranging from three to 10 years to several businessmen, former officials, and public employees, with some convictions issued in absentia.