Company Accused Of Laundering Kd1.8 Million Dinars

In a new case in a series of money laundering cases, the Public Prosecution issued an indictment report following a report submitted by a consortium of victims belonging to real-estate companies, against a Kuwaiti company, Al Qabas reported.

According to the indictment, the total value of money laundering crimes the company is alleged to have carried out reached to about KD1.8 million dinars, which was obtained by levelling accusations against victims of housing and tourism units projects.

The first expat defendant, in his capacity as authorized to manage and sign for the company with two local banks, transferred these funds to his personal accounts, transferring them from the company’s accounts to personal accounts, and then to accounts in Germany and Turkey, to hide the illegal source of his funds.

For his part, the representative of the group of victims of the real estate company and money laundering companies, Hassan al-Bahrani, said in a statement to Al-Qabas, “The amounts were deposited in the personal accounts of the accused after the victims were accused of failure in the projects licensed in real estate exhibitions between 2014 and 2019.”

He revealed that the court held the first trial session in that case, and charged the company officials, with money laundering, and fraud against an amount of a total of one million eight hundred and sixty thousand dinars.

Al-Bahrani stated that the victims of the real estate companies contributed greatly to this case, by submitting complaints to the prosecution and the Ministry of Commerce, to help the prosecution conduct its investigations and discover the amounts alleged to have been deposited in the defendants ’personal accounts, which are valued at 17 million Qatari riyals, KD139 thousand dinars, 615 thousand euros and KD24 thousand dinars.

Bahraini noted that in this case, there are seven real estate companies transferred to the criminal court for money laundering responsible for money laundering amounts exceeding half a billion dinars, and the number of officially affected persons exceeds 10,000 citizens and expats. Noting that there are still more than 63 complaints about the companies by the gathering, and investigations are underway, and soon their files will be transferred to the criminal trial.

 

SOURCE TIMESKUWAIT

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