You have commented 339 times on Rantburg.

Your Name
Your e-mail (optional)
Website (optional)
My Original Nic        Pic-a-Nic        Sorry. Comments have been closed on this article.
Bold Italic Underline Strike Bullet Blockquote Small Big Link Squish Foto Photo
Iraq
Nearly $300 million stolen from Baghdad bank
2007-07-12
BAGHDAD (Reuters) - Thieves have stolen nearly $300 million (148 million pounds) from a bank in Baghdad, police and a bank official said on Thursday, in what is probably one of the biggest thefts in Iraq since the 2003 war to topple Saddam Hussein.

Police said the thieves were three guards who worked at the private Dar Es Salaam bank in Baghdad's Karrada district.

They said that when bank employees arrived for work on Wednesday they found the front door open and the money gone. The guards, who normally slept at the bank, had also disappeared, they said.

An official at the bank said about $300 million in U.S. dollars had been stolen, as well as 220 million Iraqi dinars (87,000 pounds). He declined to give further details.

Police said the Interior Ministry and the Finance Ministry had set up a committee to investigate the theft.

It was not immediately clear why the bank had so much cash on hand, but Karrada is a key commercial district in Baghdad.

Ever since the U.S.-led invasion of Iraq, most transactions have been conducted in cash because of limited facilities to transfer money through banks or other financial institutions.

Huge amounts of money were looted from Iraq's banks during the invasion.

Posted by:GolfBravoUSMC

#4  at 1.5 mil for a 5 MW wind generator (in qty 200) thats 1,000MW of power.... enough to light Baghdad on a slightly windy day.
Posted by: 3dc   2007-07-12 18:50  

#3  Maybe the just needed a little cash to go poppy powder shopping in Afghanistan,
Posted by: GK   2007-07-12 16:47  

#2  Dupe post.
Posted by: Zenster   2007-07-12 15:56  

#1  Well, looks like the jihadi's just snagged a windfall for future funding. $300 million ought to keep 'em in explosives and splodeydopes for quite some time.

Now, someone ought to inquire (aggressively) why this much money was being kept in a bank guarded by only 3 (untrustworthy) guards.

Posted by: FOTSGreg   2007-07-12 15:46  

00:00