Al-Basra specialized court of corruption cases is investigating one of the most dangerous cases regarding misuse of public money, referred by Al-Basra CoI office. The case facts stated that the manger of Alrafidain bank/Al-Basra 2nd branch gave 38 billion dinars loans (based on faked petitions and forged documents) in coordinating with other employees.
CoI stated that, files and loans auditing disclosed that these loans were gave in 2006, 2007 and 2008. Moreover, the bank management had no action to recover the loans amount although the loans due date was expired. The auditors noticed that the misuse was within 226 loan petitions based on loan seekers faked leases with other faked documents and only 20 billions were paid back while 18 billions still anonymous. The auditors said many of the false loan seekers and other sponsors took legal actions mentioning that, they have no awareness about the loans under their names.
The investigators pointed out that loan petitions were submitted under faked names.
The judicial sources suspected the involvement of other persons from outside the bank in arranging the faked loan petitions in colluding with the bank manager and other bank employees.
