Panels point to cash scam in two co-ops

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KUWAIT CITY, May 31: The Ministry of Social Affairs referred the reports of the two committees tasked to review the work and accounts of Farwaniya and Ahmadi cooperative societies to the Public Prosecution for legal action, reports Al-Jarida daily quoting sources. Sources disclosed the reports of the two committees highlighted grave financial and administrative violations deemed harmful to the financial status of the two cooperatives and are considered wastage of the shareholders’ money.

Sources said the most serious violations were uncovered in Farwaniya Cooperative Society in which some expatriate workers are suspected of manipulating the shops and embezzling funds estimated at thousands of Kuwaiti dinars. Sources added the ministry has instructed the Board of Directors of the cooperative to not allow these employees to go on annual leave or travel as they are suspected of involvement in anomalies.

In Ahmadi Cooperative Society, the review process revealed misuse of power by some board members; which resulted in wastage of the cooperative’s funds, as well as failure to follow the proper mechanism in buying vegetables and fruits, and taking a number of individual decisions without consulting the ministry or obtaining its approval, sources added.

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