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New suspect appears as investigation into money-laundering case gets deeper

Over KD 1 billion amount involved

KUWAIT CITY, July 12: The scandals that are related to the file of the ‘Malaysian Fund’ fraud never ends and this is confirmed by the evidence, documents and 12-hour marathon investigation which is expected to be resumed today (Sunday) with the three accused, Sheikh Sabah Al-Mubarak, Hamad Al-Wazzan, and attorney Saud Abdul Mohsen, reports Al-Qabas daily.

A source familiar with Al-Qabas revealed there is another ‘lawyer’ that may join the list as a fourth suspect as investigations into money laundering get deeper.

The source said the Public Prosecution investigations center on huge sums of money and the suspects could be confronted with 7 money transfers made from the accounts of the suspects to accounts outside Kuwait, and vice versa. The amount is believed to be 1.250 billion dinars.

The sources said the Prosecution is also looking at other papers related to money involved. The sources pointed out that the account of one of the companies of the main suspect, Sheikh Sabah Al-Mubarak, received on August 26, 2018 a total 343 million dollars and after just two days he transferred 240 million dollars to another account abroad.

He is expected to be faced with this information – why the money was received and why it was then transferred. This is the only transfer that has been exposed so far.

In the meantime, the Al-Rai daily said the Public Prosecution looks at the inflated bank accounts of Sheikh Sabah Jaber Al-Mubarak, who is said to have stated during the investigations that he had signed a contract for a railway project in Malaysia worth 300 million dinars and the money was transferred to his company account in Kuwait legally, and that the contract was legally reviewed.

Al-Mubarak said during the investigations that the money he took out of Kuwait is about 200 million dinars to buy the shares of a Malaysian company in Malaysia and the rest of the money went was paid in lawyers’ fees in Britain and China.

Meanwhile, the accused Hamad Al-Wazzan has denied the charges against him, stressing he has no role in this case. For his part, the lawyer involved in the case has admitted that 400,000 dinars that were paid into his account in installments by Sheikh Sabah Jaber Al-Mubarak is the payment of fees for cases he looked into on his behalf in Kuwait and abroad.

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