The Iraqi Anti-Corruption Criminal Court issued arrest warrants for Noor Zuhair and Haitham al-Jubouri, who are implicated in the infamous “Theft of the Century” misappropriation case, local news agencies reported on Tuesday.
The case revolves around the misappropriation of an enormous 3.7 trillion Iraqi dinars (about $2.5 billion USD) from tax security deposits. This major scandal was shortly exposed just before the previous government administration under Prime Minister Mustafa al-Kadhimi concluded its term.
Zuhair, who once served as chairman of a company involved in the embezzlement scheme, was initially arrested but later released on bail. According to Iraqi Prime Minister Mohammed Shia Al-Sudani only 5 percent of the stolen funds have been recovered. Zuhair was apprehended while attempting to flee the country on a private jet from Baghdad International Airport. Known for his considerable wealth, including over 20 luxury properties in Baghdad, Zuhair failed to appear at a court session scheduled for August 27.
Al-Jubouri, the second suspect, was arrested in November 2022 by a special anti-corruption force. His arrest followed evidence of unexplained wealth and confessions from Zuhair. Al-Jubouri was a former financial advisor to the former prime minister Mustafa al-Kadhimi and was released on bail in early 2023 while investigations into his role continued.
The “Theft of the Century” scandal has exposed the scale of corruption within Iraq, with portions of the stolen funds allegedly distributed to influential figures, including politicians and media personalities. This has led to concerns that the total amount embezzled might exceed initial estimates. The ongoing investigation aims to identify additional suspects and trace the embezzled funds, including efforts to recover assets moved abroad.
Corruption has long been one of the most dangerous challenges facing Iraq, yet successive governments have struggled to improve the situation. Transparency International currently ranks Iraq’s public sector as one of the 26 most corrupt in the world, despite the government’s many efforts to reform.
The issuance of these arrest warrants signals a renewed effort by Iraqi authorities to tackle the corruption scandal and recover the misappropriated funds. The legal proceedings against Zuhair and al-Jubouri will be closely monitored, as they may reveal further details about the extent of the embezzlement and involvement of other figures.
