A legal expert explains the penalties for embezzlers and wasters of money
A legal expert explains the penalties for embezzlers and wasters of money
12-20-2022
Information / Baghdad…
The legal expert, Ali Al-Tamimi, explained the penalties imposed on those who waste or embezzle funds and the oversight authorities that follow up on these files.
Al-Tamimi told Al-Maalouma, “If the employee takes out the money, he will be responsible for that in accordance with Article 315 of the Iraqi Penal Code, which is embezzlement, the penalty for which reaches 15 years in prison. He is also responsible for the crime of forgery according to Article 289 of the Penal Code, and its penalty reaches 15 years imprisonment, and if there is an accomplice, the accomplice shall be punished with the same penalty as the original perpetrator, according to Articles 47, 48, and 49 of the Iraqi Penal Code, Articles of Contribution.
He added, “The fictitious offices, this means that they operate without a license or license, and here the owner of this office is held accountable for fraud according to Article 456 of the Iraqi Penal Code, and its penalty reaches 5 years in prison,” noting that “the authority to monitor and review these loans is the Office of Financial Supervision According to his Law 31 of 2011 according to Articles 1 to 5 of this law, he can refer any violator to integrity or notify the Public Prosecution of that, as a copy of these contracts goes to this body and these crimes are embezzlement that the Penal Code dealt with from Articles 315 to 321 in expanded detail Article 321 obligated the ruling to return the money embezzled in the ruling decision.
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