The latest corruption news from Iraq – company or government bribes, theft, stealing – brought to you by Iraq Business News
By John Lee. British Police have charged six people over the sale of allegedly fake bomb detection equipment to foreign countries, including Iraq. James McCormick, 55, who has been charged with six counts of fraud, was the director of British-based security company ATSC that sold explosive-detecting devices, according to Reuters. The ATSC website says its […]
By John Lee. Australian construction group Leighton Holdings has sacked a senior manager, whom it did not name, as part of its probe into allegations of bribery related to its $1.3 billion of oil contracts in Iraq. The company said "its internal review of the Iraq projects undertaken by its subsidiary, Leighton Offshore Pte Limited, […]
Better Business Bureau (BBB) is warning consumers across the United States to be wary when considering any foreign currency investment, particularly the Iraqi dinar. Over the years, BBB complaints nationwide about dinar investments allege a number of scams surrounding the profit potential of dinar currency investments. For this reason, BBB advises consumers looking to buy […]
The former CFO of Australia's AWB has admitted to authorising payments to Saddam Hussein's Iraqi government. According to a report in the Herald Sun, Paul John Ingleby, aged 60, admitted he failed to "join the dots" and question payments disguised as inland transport fees before approving the transactions which ultimately went to Hussein's regime. The […]
Iraq's Commission on Integrity has revealed details of fraudulent credit operations in the Ministry of Defense's branch of Rafidain Bank, noting that the director of the bank granted illegal loans in excess of "150 billion Iraqi dinars" ($129 million). The commission said that the director of the bank allowed conditions for the granting of loans […]
Paul Jennings appeared before Southwark Crown Court in London on Monday charged with alleged offences of conspiring to make corrupt payments to public officials in Indonesia and Iraq to secure contracts for Innospec Ltd for the supply of its products. Mr Jennings, a former CEO for Innospec Ltd, pleaded guilty today to the following charges: […]
A U.S. Army major who pleaded guilty to accepting $20,000 in bribes from an Iraqi contractor was sentenced last week to six months in federal prison, according to a report from Reuters. In addition to his prison sentence, Christopher Bradley, aged 42, of El Paso, Texas was also ordered to pay restitution. Federal prosecutors said […]
After almost 10 years, the former chief executive of Australia's AWB Ltd has admitted to four breaches of the law relating bribes paid to Saddam Hussein's government between 2001 and 2005 to secure wheat sales. According to the report in The Australian, Andrew Lindberg's four admissions relate to his having failed to tell the AWB […]
According to a report from UPI, global security consultancy Stratfor says Iran is systematically stealing Iraq's oil, either by siphoning it off from pipelines to boost its own exports, or by extending its control over Iraq's southern oilfields in Shiite-controlled Basra province: "Iran's deep political, economic and militant links in Iraq -- particularly in the […]
Iraq's Commission on Integrity has arrested a man who was passing himself off as an Inspector General of the Commission. According to the Commission, the man, who was not named, used official government cars and was protected by police. He allegedly tricked his way into police stations and other official offices to gather names of […]
AKnews reports that one hundred unlicensed pharmacies were shut down throughout Iraq in April, and four tons of out-of-date medicine were seized and destroyed. The Inspector General at the Health Ministry, Adel Muhsin, said the ministry closed the pharmacies for selling drugs that were unfit for human consumption and came from unknown factories and origins. […]
More than $5m (5.8bn IQD) worth of fuel is stolen each month from the amount allocated to three Turkish barges that produce power in Basra, a government investigation has revealed. According to the report from Aknews, Iraq's Electricity Ministry announced the discovery following an ongoing investigation into fuel theft. The Inspector General of the Ministry, […]
