Mosul residents demand justice after $28 million fraud scheme exposed

MOSUL — A major fraud case has surfaced in Mosul, where a man identified as “Dr. Osama Al-Hatem” allegedly collected nearly 41 billion dinars (about $28 million) from more than 3,600 individuals through a fake investment office that promised monthly profits.

Victims have called on Nineveh governorate authorities and judicial bodies to recover their money and launch an official investigation after Al-Hatem fled with his children and closed the office. He was later arrested.

“I am one of the contributors to Dr. Osama Al-Hatem’s office. I gave him 22 million dinars (about $15,000) two years ago, and until now I have not received any amount, like more than 3,600 other contributors,” said Um Ibrahim to 964media. “One of my relatives gave the doctor 200 million dinars (about $137,000) and fell victim to the fraud practiced by this fake office.”

Residents have gathered in Mosul demanding the return of their savings, many saying they entrusted their life savings to the office, believing it to be legitimate.

“This doctor defrauded us and stole our money with his children,” said Um Younis, another contributor. “He came to us as a man of religion and good reputation, and now we do not know the fate of our money.”

“We filed a complaint against him, and he was imprisoned, then released with the hope of recovering the money, but it turned out he continued the fraud and theft,” she added. “I gave him the savings of my life with my husband. I now live in a rented house and sold my gold and home to invest in Dr. Osama Al-Hatem’s office.”

“Dr. Osama owns funds, buildings, and properties, all from our money. We demand the government, the relevant authorities, and the Nineveh Court of Appeals to stand with us and recover our money,” she said. “Most of the contributors are from simple backgrounds, and all contributions were made under formal contracts and official papers, with total amounts exceeding 41 billion Iraqi dinars (about $28 million).”