Authorities seize half a billion dinars
Intelligence agency in Baghdad arrests nine for illegal dollar trading and Mastercard smuggling
BAGHDAD, December 4 — The Intelligence Agency in Baghdad announced on Sunday the arrest of nine individuals on charges of currency speculation and smuggling prepaid Mastercards, confiscating nearly half a billion dinars.
A statement from the agency read:
Intelligence units in Baghdad received precise information regarding a group of individuals involved in money smuggling and trading prepaid cards, taking advantage of a residential apartment in one of Baghdad’s areas, specifically in the Mansour district. The group operated under the guise of a university services company. Immediately, an intelligence team was formed to investigate and gather information, and after completing all legal procedures, our organized crime units raided and searched the mentioned apartment.
During the operation, our units seized a sum of money estimated at 406,000,000 Iraqi dinars and approximately $157,000. Additionally, nine suspects working within the mentioned fraudulent company were apprehended. Upon interrogation, the suspects openly confessed to engaging in activities contrary to the Central Bank law, smuggling money, and causing damage to the national economy. Their statements were documented, and they were referred to the relevant authorities for prosecution to face fair consequences.