ERBIL, Kurdistan Region of Iraq - An Iraqi court on Sunday announced the recovery of 384 million dinars (over $293,000) that was misappropriated by an oil products distribution company for three years.

The Maysan Integrity Investigation Court said that five suspects had been arrested in accordance with Article 315 of the Iraqi penal code for their involvement in the embezzlement of 423 million dinars (over $323,000).

The suspects had embezzled fuel transportation fees during the years 2021, 2022, and 2023. A total sum of 39 million dinars (approximately $30,000) has yet to be retrieved.

Article 315 of the Iraqi penal code reads: “Any public official or agent who embezzles or conceals funds, goods, documents establishing legal rights or other things that come into his possession is punishable by imprisonment.”

Iraq ranks 140 out of 180 when it comes to countries’ corruption rates, according to the 2024 Corruption Perceptions Index by Transparency International.

The Heist of the Century, the largest corruption scandal in Iraq’s modern history, involves the embezzlement of $2.5 billion from tax funds between September 2021 and August 2022. The Iraqi government has announced the retrieval of some of the funds, but the majority remains missing almost three years later.