Dinar Fraud Case: Court Recovers $2.3m
By John Lee.
Iraq's Second Karkh Investigative Court has recovered 3 billion Iraqi dinars [$2.3 million] in connection with a financial fraud case involving two companies accused of manipulating foreign currency exchange rates through illegal overseas transfers.
The companies had allegedly exploited discrepancies in the dollar exchange rate using fraudulent methods to generate profits, in violation of Iraqi law.
The recovery was made under the supervision of the court's chief judge, and further legal action is underway against other firms suspected of employing similar practices.
The judiciary emphasised its commitment to protecting public funds and pursuing those exploiting financial loopholes at the expense of the national economy.
(Source: Supreme Judicial Council) Tags: cg, Corruption, currency, dinar, Dinar fraud, exchange rate, featured, financial fraud, foreign exchange, forex, fraud, IQD, Iraqi Dinar News
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