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Posted by on Jul 10, 2008 in Economy | 0 comments

Iraq’s Finance Minister Accused of Massive Money Laundering

Once again, the American taxpayer appears to be footing the bill for rampant corruption and mismanagement within the Iraqi government.

This article from Iraq’s Kitabat newspaper relates charges that Iraq’s finance minister, with the connivance of Iran, had billions in counterfeit Iraqi currency trucked into Iraq and exchanged for American dollars.

Khadir Taahar writes for Kitabat:

“In a grave conspiracy against the Iraqi economy, Minister of Finance Bayan Jabr Solagh exploited his position and influence over the Iraqi Central Bank by exchanging billions of dinars in counterfeit Iraqi currency with American dollars. … The details, which were leaked from within the corridors of the Ministry of Finance, are that the Supreme Islamic Iraqi Council [Iraq’s most powerful political party ] had for a time transported by truck, large sums of counterfeit Iraqi currency printed in Iran into Iraq, to the Iraqi Ministry of Trade, and that this counterfeit currency was then replaced with American dollars.”

By Khadir Taahar

Translated By James Jacobson

July 2, 2008

Kitibat – Iraq – Original Article (Arabic)

In a grave conspiracy against the Iraqi economy, Minister of Finance Bayan Jabr Solagh exploited his position and influence over the Iraqi Central Bank by exchanging billions of dinars in counterfeit Iraqi currency with American dollars.

The details, which were leaked from within the corridors of the Ministry of Finance, are that the Supreme Islamic Iraqi Council [Iraq’s most powerful political party ] had for a time transported by truck, large sums of counterfeit Iraqi currency printed in Iran into Iraq, to the Iraqi Ministry of Trade, and that this counterfeit currency was then replaced with American dollars.

It’s noteworthy that during the time of Saddam’s regime, the Supreme Council – with the cooperation of the Kurdish parties – flooded the Iraqi market with counterfeit currency, which entered the country from Iran into northern Iraq. From there it was distributed to the rest of Iraq’s cities.

READ ON AT WORLDMEETS.US, along with continuing translated Iraqi press coverage of the Iraqi conflict.

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