Central Bank Of Iraq Robbery

The constitution of iraq states that the central bank is a financially and administratively independent institution responsible before the council of representatives of iraq.

Central bank of iraq robbery. In fact in an audacious move nearly 1bn was stolen from iraq s central bank by its very own dictator. The bank robbery that took place at the central bank of iraq in 2003 is said to be the largest cash heist in the history of the world. It is claimed that saddam hussein perpetrated the bank robbery because he was expecting united states forces to be in the area at any moment. When saddam hussein swiped 1 billion from iraq s central bank on the eve of the u s.

Invasion it was just the start of the stealing. According to the constitution the federal government of iraq has the exclusive authority of establishing and administering a central bank. Top of the league is the estimated 800m removed from the central bank by saddam. The bank robbery that took place at the central bank of iraq in 2003 is said to be the largest cash heist in the history of the world.

One of saddam hussein s sons took almost 1bn 640m in cash from iraq s central bank only hours before the americans started bombing the us state department said last night. Iraq holds the world record for both the first and second highest amounts taken in the history of bank robberies. The bank s entire capital stock was legally mandated to be held by the state. Central bank of iraq 1bn 2003 what is by far the largest bank robbery in history was not perpetrated by a normal off the street criminal.

On 25 january 2011 the supreme court of iraq ruled that the central bank.