Iraq's judiciary has issued arrest warrants for four former government officials over the theft of $2.5 billion in public funds in one of the country's biggest corruption scandals.
An investigating judge in Baghdad issued the warrants on Saturday, the country's anti-corruption agency said.
The four men are accused of "facilitating the embezzlement of sums belonging to the tax authorities", it said.
The agency said the officials would also be subject to an asset freeze.
The four men, who include a former finance minister and staff of former Iraqi prime minister Mustafa Al Kadhimi, all live outside the country, an official at the agency told AFP.
The warrants do not name the accused, but the official identified them as former finance minister Ali Allawi, former director of cabinet Raed Jouhi, personal secretary Ahmed Najati and adviser Mushrik Abbas.
Mr Allawi resigned from his post in August last year. When the scandal broke a few months later, he denied involvement.
Mr Al Kadhimi has defended his record on fighting corruption, saying his government discovered the case, opened an investigation and took legal action.
The case, which has been called "the heist of the century", sparked outrage in Iraq, which is plagued by corruption.
At least 3.7 trillion Iraqi dinars ($2.5 billion) was stolen between September 2021 and August 2022 through 247 cheques cashed by five companies.
The money was withdrawn in cash. Most of the owners of the companies are on the run.
The cheques were issued by the General Commission of Taxes, an office within the Ministry of Finance.
Iraqi Prime Minister Mohammed Shia Al Sudani, who vowed to crack down on corruption after taking office in October, announced the recovery of 182.6 billion dinars a month later.
Standing besides large stacks of banknotes, he said two businessmen were arrested over the scandal.
All of the recovered funds were from businessman Nour Jassim, chief executive of Al Qanit and Al Mubdioon companies, Mr Al Sudani said.
Mr Jassim was arrested at Baghdad International Airport while trying to leave the country on a private jet.
He confessed to receiving more than $1 billion, Mr Al Sudani said.
Mr Jassim was released on bail on condition of recovering the remaining funds within two weeks, the Prime Minister said at the time.
Leaked details of an investigation into the scandal launched by Mr Al Kadhimi's government showed at least three of the companies accused of involvement were established in July 2021.
Trading companies and people who deal with the government have to deposit money as a performance guarantee, from which taxes are later deducted.
Afterwards, the companies and people can apply to withdraw what is left from their deposits.
“These amounts have been stolen by the companies through the cheques issued by the General Commission of Taxes instead of going to the real beneficiaries,” the investigation said.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Killing of Qassem Suleimani
Killing of Qassem Suleimani
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The National photo project
Chris Whiteoak, a photographer at The National, spent months taking some of Jacqui Allan's props around the UAE, positioning them perfectly in front of some of the country's most recognisable landmarks. He placed a pirate on Kite Beach, in front of the Burj Al Arab, the Cheshire Cat from Alice in Wonderland at the Burj Khalifa, and brought one of Allan's snails (Freddie, which represents her grandfather) to the Dubai Frame. In Abu Dhabi, a dinosaur went to Al Ain's Jebel Hafeet. And a flamingo was taken all the way to the Hatta Mountains. This special project suitably brings to life the quirky nature of Allan's prop shop (and Allan herself!).
Results
5.30pm: Maiden (TB) Dh82,500 (Dirt) 1,600m, Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
6.05pm: Maiden (TB) Dh82,500 (Turf) 1,400m, Winner: Mayehaab, Adrie de Vries, Fawzi Nass
6.40pm: Handicap (TB) Dh85,000 (D) 1,600m, Winner: Monoski, Mickael Barzalona, Salem bin Ghadayer
7.15pm: Handicap (TB) Dh102,500 (T) 1,800m, Winner: Eastern World, Royston Ffrench, Charlie Appleby
7.50pm: Handicap (TB) Dh92,500 (D) 1,200m, Winner: Madkal, Adrie de Vries, Fawzi Nass
8.25pm: Handicap (TB) Dh92,500 (T) 1,200m, Winner: Taneen, Dane O’Neill, Musabah Al Muhairi
KILLING OF QASSEM SULEIMANI
The five pillars of Islam
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Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
UAE currency: the story behind the money in your pockets
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
One in four Americans don't plan to retire
Nearly a quarter of Americans say they never plan to retire, according to a poll that suggests a disconnection between individuals' retirement plans and the realities of ageing in the workforce.
Experts say illness, injury, layoffs and caregiving responsibilities often force older workers to leave their jobs sooner than they'd like.
According to the poll from The Associated Press-NORC Centre for Public Affairs Research, 23 per cent of workers, including nearly two in 10 of those over 50, don't expect to stop working. Roughly another quarter of Americans say they will continue working beyond their 65th birthday.
According to government data, about one in five people 65 and older was working or actively looking for a job in June. The study surveyed 1,423 adults in February this year.
For many, money has a lot to do with the decision to keep working.
"The average retirement age that we see in the data has gone up a little bit, but it hasn't gone up that much," says Anqi Chen, assistant director of savings research at the Centre for Retirement Research at Boston College. "So people have to live in retirement much longer, and they may not have enough assets to support themselves in retirement."
When asked how financially comfortable they feel about retirement, 14 per cent of Americans under the age of 50 and 29 per cent over 50 say they feel extremely or very prepared, according to the poll. About another four in 10 older adults say they do feel somewhat prepared, while just about one-third feel unprepared.
"One of the things about thinking about never retiring is that you didn't save a whole lot of money," says Ronni Bennett, 78, who was pushed out of her job as a New York City-based website editor at 63.
She searched for work in the immediate aftermath of her layoff, a process she describes as akin to "banging my head against a wall." Finding Manhattan too expensive without a steady stream of income, she eventually moved to Portland, Maine. A few years later, she moved again, to Lake Oswego, Oregon. "Sometimes I fantasise that if I win the lottery, I'd go back to New York," says Ms Bennett.
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Dubai Rugby Sevens, December 5 -7
World Sevens Series Pools
A – Fiji, France, Argentina, Japan
B – United States, Australia, Scotland, Ireland
C – New Zealand, Samoa, Canada, Wales
D – South Africa, England, Spain, Kenya
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
