The story: Simmering controversy over the “heist of the century” in Iraq has been reignited as a businessman central to the multi-billion dollar corruption case has failed to appear for his court date. Raising further eyebrows, Noor Zuhair Jassim Al-Muthaffar is reported to have been involved in a “suspicious” traffic accident outside Iraq’s borders—in Lebanon—only days before his trial. The curious twists and turns of the case have brought speculations to a fever pitch, with observers warning of a potentially profound political fallout. 

The coverage: Originally set to begin on Aug. 14, Muthaffar’s trial was postponed to Aug. 27 after he failed to...