Suspect's seizure lifted in $2.5B Iraqi tax heist

Suspect's seizure lifted in $2.5B Iraqi tax heist
2023-04-30T19:20:44+00:00

On Sunday, the Iraqi judiciary lifted the seizure on properties owned by Noor Zuhair, the primary suspect in the theft of over $2.5 billion in tax funds, an incident dubbed the "Heist of the Century."

Shafaq News Agency obtained documents indicating that al-Karkh Court of Investigation lifted the seizure on 43 properties owned by the convicted Noor Zuhair and his wife, Roa Hussein, in the capital Baghdad and Basra governorate.

Al-Karkh Court of Investigation justified the decision, stating that the convict Noor Zuhair has been consistently returning the stolen funds and depositing them in the trust account opened at Rafidain Bank, according to the documents. Noor Zuhair, the owner of the companies "Al-Qanat and Al-Mubdioun," was arrested at Baghdad International Airport on November 24, 2022, while attempting to leave the country.

However, the Iraqi judiciary decided to release Noor Zuhair on bail, provided that he pledges to return the stolen funds to the Tax Authority.

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