The latest corruption news from Iraq – company or government bribes, theft, stealing – brought to you by Iraq Business News
By John Lee. Ziad Akle, Unaoil's territory manager for Iraq, has had his conviction for bribery quashed by the UK's Court of Appeal today (Friday). He had been sentenced to five years' imprisonment in July 2020 having been found guilty of paying over $500,000 in bribes to secure a $55-million contract to supply offshore mooring […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Why Iraqi Kurds are seeking refuge in Europe The heartbreaking drama of thousands of migrants, many of them Iraqi Kurds, stranded along the Belarusian border with Poland, where they encounter dire conditions in […]
By John Lee. Karkh anti-corruption central criminal court has recently sentenced several people regarding corruption in office: A manager of the procurement committee in Nineveh was sentenced to two years in prison for submitting fake receipts regarding the shelter of IDPs in the province; The Director General of the Tax Authority in Iraq was sentenced […]
By John Lee. Nineveh Criminal Court has sentenced the former director of Real Estate Registration and his assistants to ten years in prison for fraud relating to property belonging to Mosul Municipality Department. The court issued a sentence of temporary imprisonment for ten years in accordance with article (289) of Penal Code No.(111) of 1969 […]
Following a successful investigation and conviction of four individuals for corruption at Unaoil, the UK's Serious Fraud Office (SFO) has recovered criminal gains of almost £100,000 from a former senior executive. The full amount must now be paid into the public purse within 28 days. Earlier this year, the SFO was praised by HM Crown […]
By John Lee. Oil services company Petrofac has said it is "anticipating significant upside potential upon return to markets in Saudi Arabia, Iraq and the UAE". In 2019, customers in Iraq and Saudi Arabia suspended Petrofac from bidding on new contracts, while allowing it to execute pre-existing contracts, followed by a UAE customer in 2020. […]
Writing about the new Iraqi National Oil Company (INOC) in Oil Price, Simon Watkins argues that the greater the concentration of power over oil and money in one place, the more monumental the scale of corruption becomes. Click here to read the full story.
By John Lee. Shares in Petrofac were trading up more than 7 percent on Monday, as the company was ordered to pay GBP 77 million [$105 million] after the UK's Serious Fraud Office (SFO) secured further convictions in its investigation into bribery and corruption at the Jersey-registered energy services company. On Friday, Petrofac Limited pleaded […]
By John Lee. A revealing report by Samya Kullab, for AP News, exposes the system of corruption and patronage that keeps Iraq's electricity system in the dark ages. Click here the read the full report. (Source: AP News)
By John Lee. Petrofac shares closed the day up more than 26 percent on Friday, after the company announced that it has reached a plea agreement with the UK Serious Fraud Office (SFO) in relation to bribery in Iraq, Saudi Arabia and the UAE. The Company indicated guilty pleas to seven counts of failing to […]
By John Lee. An international conference on the recovery of looted funds has just concluded in Baghdad. The conference was organised by Iraq's Commission of Integrity, and was attended by Prime Minister Mustafa al-Kadhimi; the Secretary-General of the Arab League, Ahmed Abul Gheit; ministers, judges and other officials. Praising the efforts of anti-corruption bodies, the […]
By John Lee. Iraqi courts have recently sentenced several people regarding corruption in office: The Central Criminal Court has issued two judgments six years in prison against Bahaa Alaa Abd and Ali Saleh Hadi, due to the offense of interference of the first person to appoint the second in the position of Director General of […]
