Theft of the Century: Two suspects extradited to Iraq

Shafaq News/ Iraq has extradited two suspects linked to the notorious “Theft of the Century” tax deposit scandal from Kuwait, the country’s Integrity Commission revealed on Saturday.

According to the Commission’s statement, the suspects, identified as the managing director of a private trade and contracting company and his agent, are accused of receiving large sums of money to facilitate the disbursement of stolen tax deposit funds.

“An international red notice led to the suspects’ arrest in Kuwait, followed by their extradition to Iraq through diplomatic channels,” the Commission noted.

The Karkh Second Investigative Court had previously issued arrest warrants for the suspects under Article (11/444) of Iraq’s Penal Code, based on testimonies from other suspects and witnesses.

The “Theft of the Century” scandal, which came to light in October 2022, involved the fraudulent withdrawal of over 3 trillion Iraqi dinars ($2.5 billion) from tax deposits via fake bonds issued by five oil companies.

By the end of 2024, Iraq’s judiciary had sentenced multiple individuals in absentia for their roles in the “Theft of the Century.” Among them was Nour Zuhair, the primary suspect, who received a 10-year prison sentence.