Guilty verdict handed to official at center of Iraq bank heist

BAGHDAD, August 2 – A former official in charge of security at Rafidain Bank was sentenced to four years in prison and ordered to pay a fine of 13 billion Iraqi dinars (approximately $86,000 US) on Wednesday, according to Iraq’s Integrity Commission.

A statement received by 964 said:

“The legal department of the Integrity Commission reported that the Criminal Court of Rusafa – Second Chamber issued a verdict of four years of severe imprisonment for the former official responsible for security at Rafidain Bank, who was found guilty of embezzlement. The court also ordered the confiscation of the embezzeled money in the convict’s possession, amounting to 6.8 billion dinars. Additionally, the convict was required to pay a financial fine equivalent to the amount of illicit gains, making the total to be paid 13.6 billion dinars.

The court reached its verdict after examining evidence and the technical report prepared by the Prevention Department of the Integrity Commission. The court was fully convinced of the defendant’s guilt, resulting in the issuance of the guilty verdict. Furthermore, the court ruled that the convict would not be released after serving the sentence until both the fine and the confiscated funds were fully paid.”

The statement also highlighted that the verdict was issued by the Criminal Court of Rusafa – Second Chamber, based on the provisions of Article (19/2) of the Integrity and Illicit Gain Law No. (30 of 2011) as amended.