Gallows for Asian in drug trafficking – ‘Pay $2m comp to citizen’

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KUWAIT CITY, June 13: The Commercial Section at the Court of Appeals presided over by Judge Fawzi Al-Wuhaib nullified the verdict issued by the Court of First Instance which dismissed a lawsuit filed by a Kuwait citizen against an investment company.

The appellate court instead ordered the company to pay $2 million or its current equivalent in Kuwaiti dinars as well as legal fees of KD 2,000, according to lawyer Talal Al-Mansouri.

According to the case file, the citizen had transferred 100 million public subscription shares to the company for $7 million in a GCC bank.

During the transaction, the citizen realized that a major shareholder in the bank is a member of a reputable royal family in a GCC country, which gives the bank impetus for shareholders of the bank. However, the company later discovered that the royal member did not own more than 1.7 percent of the bank’s shares and claimed that the plaintiff lied.

The company only paid $5 million without presenting any proof that it had right to keep the remaining $2 million. The bank resolved that the royal member might be having a very low share percentage in the bank, that he is a well recognized founding shareholder and a member of the board, so the citizen did not lie about it and has right to the agreed sum.

Death for Asian: The Criminal Court, headed by Judge Salman Al-Suwait, sentenced an Asian to death by hanging and an Egyptian to life imprisonment in two separate drug trafficking cases. Case files indicate the Asian and Egyptian were arrested for trading in drugs with an undisclosed quantity of heroin and marijuana in their possession. The arrest happened after the concerned security department received information on the illegal activities of the two accused who confessed to selling and consuming drugs during interrogations

By Jaber Al-Hamoud Al-Seyassah Staff

This news has been read 6398 times!