Iraq arrests businessman suspected in theft of $2.5b from tax agency

Iraqi security forces on Monday arrested a businessman allegedly attempting to flee the country after being implicated in the “theft” of $2.5 billion from tax authorities, the interior ministry said.

The alleged theft first came to light in mid-October, sparking widespread anger in the war-ravaged country that has long suffered endemic corruption while sitting on some of the world’s largest oil reserves.

According to a document from the country’s tax authority, the colossal sum of cash was allegedly expropriated between September 2021 and August 2022 through 247 cheques cashed by five enterprises.