Kirkuk: The Iraqi National Security Service in Kirkuk announced today that it has dismantled an organized network involved in real estate fraud and forgery, which had caused the waste of billions of dinars in public funds.
According to National Iraqi News Agency, the INSS stated in a press release that the operation was executed under judicial warrants issued by the competent judge. The operation led to the arrest of 18 suspects, including government employees, bankers, and investors, who were engaged in complex fraud schemes targeting a government program designed to provide housing units for citizens.
The statement clarified that investigations revealed two main methods used by the network. The first method involved obtaining fraudulent loans by presenting forged property deeds and promoting transactions under the names of innocent citizens, claiming that they were guaranteed to receive housing units. A total of 30 such transactions, ready for disbursement, were halted.
The second method, according to the statement, involved an attempt to seize a state-owned plot of land measuring 57,500 m² through the use of falsified deeds that did not correspond to the actual property, with the aim of unlawfully acquiring public assets.
The INSS confirmed that the operation successfully prevented a financial loss estimated at 8 billion Iraqi dinars, noting that all suspects have been referred to the competent judicial authorities for legal action.