Today, Monday, the Integrity Commission in Iraq announced the issuance of a five-year aggravated prison sentence against the former General Manager of the Iraqi Trade Bank, TBI, for “wasting” $ 40 million.
She said in a press release, “The convict (she did not name him) committed a serious mistake and caused damage to public money as a result of granting credit facilities in the amount of 40 million US dollars to a bank for the purpose of covering documentary credit, despite the weakness of the guarantees provided by the bank, and before completing a grant transaction. Loan. “
She added, “A ruling was issued to compel the bank to which the loan was granted to pay an amount ($ 38,072,807), representing the principal of the debt with the usual interest, without the late interest.”
The commission pointed out that “the Al-Karkh Misdemeanor Court specialized in integrity issues, after reviewing the evidence obtained in the form of the audit report and the investigation report of the Integrity Commission, in addition to the statements of the bank’s legal representative and the administrative investigation that showed the defendant’s negligence, decided to sentence him in absentia to five years’ aggravated imprisonment.”
“The ruling included issuing an arrest warrant and investigating the right of the convicted person and preventing his travel, in addition to placing the seizure sign on his movable and immovable property based on the provisions of Article (184 / a) of the Iraqi Criminal Procedure Code, while giving the right to the injured party to claim compensation.”
Source: RT
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