On March 18, 2003, one day before the bombing of Bagdad started; nearly one billion dollars vanished in several stages out of Iraqi Central Bank. This is considered to be the biggest robbery in history. Later on, American soldiers discovered $650 million hidden in Saddam’s house walls. It appeared that money was part of the one billion dollars. However, no further information is available about the other $350 million.
Diyaa Habib al-Khayoun, general manager at the state-owned al—Rafidain bank said that $250 million and another 18 million Iraqi dinars, now totally valueless, were also stolen from the Central Bank in the same day. This time the robbers were professionals and had no connection to Saddam. In March 2003 Saddam sent a hand-written note demanding that $920 million in cash be withdrawn and given to Quassay, his son.
Central Bank officials said that Quassay was seen taking part at the money loading operation. The money came in boxes full of 100 dollar bills and was loaded in trucks. The whole loading operation took about five hours.