KUWAIT CITY, Sept 19: Last week, the Court of Cassation dropped the curtain on the second biggest case of real estate fraud and money laundering. In this case that occupied local public opinion for a long time, the court presided over by Judge Salah Al-Morshid acquitted 33 employees of the “Timas” company, overturning their conviction and canceling the fine imposed on them. The court’s verdict follows the first final verdict that had sentenced the company officials (managers) to ten-year imprisonment, and fined them KD 107 million.
Earlier, the Public Prosecution had charged the defendants with carrying out a money laundering scheme involving KD 8.4 million, and deliberately possessing and transferring those funds during the period from January 1, 2016 to March 31, 2017 under the knowledge that they were obtained fraudulently, and assisting other defendants involved in the scheme to evade legal punishment. The Court of Appeals had sentenced the employees to prison terms of up to seven years and fined them KD 160 million. However, the Court of Cassation overturned the ruling and upheld the verdict of the first degree of acquittal. By Jaber Al-Hamoud Al-Seyassah Staff