KUWAIT CITY, Jan 1: The Court of Cassation ruled in favor of one of the subsidiaries of Kuwait Oil Tankers Company (KOTC) in recovering $31.5 million from the frozen accounts of the second defendant in the embezzlement case Hassan Qabazard, reports Aljarida daily. The Public Prosecutor’s Office had frozen the accounts of the deputy managing director of financial and administrative affairs in KOTC in 1990, Qabazard, who is currently in prison. The court confirmed that Qabazard in 1990 had contracted to sell the wreckage of a company ship following a fire incident. He kept the profits for himself by making amendments to the contract. He had failed to present the value of the sale of the ship to the company, causing a loss of $31.5 million.
Verdict upheld: The Court of Cassation recently upheld the verdict of the Court of Appeals and ordered a company to pay interest money, reports Al-Jarida daily. The daily had taken the case to the Court of Cassation after the Court of Appeals upheld the ruling of a lower court. The company based its case on the Islamic law saying paying interest is forbidden in Islam. However, the Court of Cassation ruled Sharia is not the only source of legislation. The verdict said commercial law ensures payment of interest on commercial debt. The claim that the Court of Appeals had violated the Islamic law is null and void, said the final verdict.
3 officials held: The Public Prosecution Thursday detained three officials working for the TMAS real estate company and ordered their detention for 21 days at the Central Prison, reports Al-Jarida daily. The Prosecution has also ordered the arrest of 10 other suspects in a new lawsuit that has been filed by the Prosecution against the company officials. The Prosecutor slapped a charge of money laundering, fraud and violation of the Ministry of Commerce decisions against the 13 officials. They are accused of unauthorized activity.
‘End case legally’: The head of the Kuwaiti Cultural Office in Cairo, Dr. Ahmed Al-Mutairi said a lawsuit has been filed by some of the 105 Egyptian service providers contracted by the Ministry of Education to work in schools in the academic year 2011/2012 but the Ministry, apologized for inability to hire them towards the year end, reports Al-Rai daily. Al-Mutairi has been instructed to coordinate with the embassy to end the case through legal means, and provide the Ministry of Foreign Affairs with all the information and documents about the case.
‘Joyriders’ nabbed: Police have detained two young Kuwaitis and are looking for a third for driving away with the vehicle of a Kuwaiti woman, reports Al-Anba daily. A security source said the three youngsters saw the car of the Kuwaiti woman unlocked, drove it the entire night and returned it in its place. The arrest came when the two youths in police custody returned the next day to play the same game, but for their bad luck the son of the woman happened to be there and managed to seize the youngsters. They have been referred to the authorities.
Kuwaiti swindled: Police have arrested an unidentified person for swindling a 24-year-old Kuwaiti, reports Al-Rai daily. In his complaint the victim said the suspect convinced him to invest money in his business and promised a big margin of profit and after the former invested KD 30,000, the latter claimed he lost the money in transactions. The swindler has been referred to the authorities.