Duo Held In Money-laundering – Traders Probed
Category: Crime News
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The Public Prosecution Department has detained two businesspersons for further investigation after being accused of fraud and money laundering involving over KD 15 million.

The duo was detained after Attorney Fahad Al-Hadad filed a complaint that they sold dummy real estates in Saudi Arabia Attorney Al-Hadad was representing a group of complainants who had paid the accused to invest in the real estate project in Saudi Arabia in which they were to receive revenue from rental apartments belonging to the company established by the two defendants in order to sell to unsuspecting investors.

In the first months, the investors received some payments but it came to a sudden halt, which prompted the investors to request more information about the activities and why they had stopped receiving returns on their investments as agreed. They later found out that the project which they had invested in was still under construction, and the accused was silent in that aspect.

Meanwhile, the Criminal Court ordered continuous detention of a former footballer after denying charges of offending the entity of HH the Amir. Hearing of his case is set on Dec 30. The Public Prosecution charged the former footballer for using words deemed offensive to the Amiri entity via his Twitter account, and misusing the means of communication (mobile phone).

 

SOURCE : ARABTIMES

18 Dec, 2018 0 301
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