Iraq dismantles network involved in land forgery and loan fraud in Babil

Iraq’s Federal Integrity Commission announced on Wednesday the dismantling of a 11-member network accused of manipulating and forging loan transactions at the Real Estate Bank branch in Babil Governorate, causing damage to public funds estimated at more than 500 million Iraqi dinars.

The commission said its Babil Investigation Office uncovered fraudulent practices involving 56 loan files. The network reportedly consisted of six bank employees and five intermediaries.

According to the commission, the violations included forging property deeds, altering property classifications and falsifying sale records. The suspects also allegedly used fake repayment receipts to clear loans and lift property liens, allowing the same properties to be used again to secure new loans. In some cases, borrowers were reportedly asked to pay amounts they had already settled.

The commission confirmed that arrest warrants had been executed against five bank employees and two intermediaries, while efforts continue to apprehend the remaining suspects. Investigators also found official stamps, banking documents, cash and gold jewelry during searches of several suspects’ homes.