The latest corruption news from Iraq – company or government bribes, theft, stealing – brought to you by Iraq Business News
Iraqi authorities have arrested a high-ranking police official in connection with the purchase of a bomb detector that the British government says does not work, officials said on Thursday. Reuters reports that Iraq spent about £75 million [$120m] on the devices, which are widely used by police and soldiers at security checkpoints and were meant […]
By Tariq Abdell, Iraq's political risk analyst, and Founder & CEO of Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. As Iraq-business news celebrates its one year anniversary, MENA region is witnessing a fundamental political upheavals and changes, costing Mubarak of […]
A legal adviser to Prime Minister Nouri al-Maliki said on Sunday that the Iraqi government is currently pursuing more than 150 foreign companies accused of corruption in the Oil-for-Food program, according to an AKnews report. Fadel Mohammed told the agency that the government is determined to bring these companies to justice, adding that there are […]
Masoud Barzani, President of Iraqi Kurdistan, held a meeting on Wednesday with the prime minister of the Kurdistan Regional Government (KRG), the speaker of Kurdistan Parliament, and leaders and representatives of political parties in the region to exchange views on how to fight corruption and make the KRG's institutions more efficient. President Barzani said it […]
A U.S. Marine captain who last year pleaded guilty to skimming nearly $1.7 million from government contracts in Iraq was sentenced to six years in federal prison on Monday. Eric Schmidt, aged 40, of the First Marine Division, pleaded guilty in May to conspiracy to commit wire fraud and filing a false tax return with […]
Last week the federal supreme court ruled in favor of the government's request to have the Central Bank of Iraq (CBI), along with the Independent High Electoral Commission, the Integrity Commission, and the High Commission for Human Rights, put under the supervision of the cabinet. This is bad news for the central bank. Up to […]
The former chief executive of a British chemical company has settled allegations that he approved illegal bribes to Iraq's Oil Ministry and government officials in Indonesia in the mid-2000s, according to the Wall Street Journal. Paul W. Jennings, former CEO of Innospec Inc., agreed to pay $229,000 to settle allegations that he violated the U.S. […]
The Chief Executive Officer of Sweden's Scania AB, Leif Oestling, will be called for questioning by a Swedish prosecutor over allegations that the truckmaker violated United Nations sanctions against Iraq, Dagens Industri reported, citing an interview with the prosecutor. Prosecutor Nils-Eric Schultz will ask Oestling whether his employees may have violated sanctions without his knowledge, […]
AKnews reports that an adviser at the Iraqi Central Bank (ICB) stated on Tuesday that a new law has been submitted to the parliament to combat money laundering in coordination with other government institutions, in order to provide greater protection for Iraq's economic system. Muzher Mohammed Saleh told AKnews that the new law is more […]
Bloomberg reports that U.S. prosecutors have filed a civil suit against Kuwaiti logistics company Agility, accusing it of defrauding the government over food contracts to the U.S. military in the Middle East worth $9.8 billion. Agility was the largest supplier to the U.S. Army in the Middle East during the war in Iraq and a […]
The Defense Department is being forced to extend multimillion-dollar contracts for services in Iraq, including one with a firm under criminal indictment, because losing bidders have legally challenged the companies selected as replacements, according to a report from the Washington Post. The Kuwaiti firm Agility, charged in November 2009 with overbilling food contracts worth $8.5 […]
Scottish engineer Weir Group (LSE: WEIR) has agreed to plead guilty to two charges of breaching UN sanctions in connection with a number of UN sanctioned Oil for Food programme contracts awarded between 2000 and 2002. Following the guilty plea, the Company will be subject to a confiscation order in respect of its benefit from […]
