Mohammad Soudani

The biggest bank heist in history (and why you've never heard of it)

Nicolas Pelham, Hussein Kanbar Agha, Jonathan Beckman, Mustafa Kadhimi, Mohammad Soudani, Thea Jahar-Lafda

In August 2022, a systematic theft of $2.5 billion from the Iraqi General Commission for Taxes was exposed, with the central plotter Noor Zahair bypassing official controls to distribute funds to five shell companies. Although Prime Minister Mustafa Kadhimi's administration initially arrested Zahair as part of a political maneuver against the pro-Iranian Fatah Alliance, the subsequent government collapse led to Zahair's release and the issuance of arrest warrants for the investigators. The operation exemplifies a broader pattern of grand corruption where the majority of the stolen cash remains missing and is allegedly reinvested into Baghdad's construction boom while key figures evade lasting legal consequences.