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Wednesday , October 23 2019

Six accused of money laundering given 10 yrs jail … 7th gets 3 yrs

KUWAIT CITY, April 2: The Criminal Court presided over by Judge Nayef Al-Dahoum sentenced six suspects, who are accused of money laundering, to ten-year imprisonment, and the seventh suspect to three-year imprisonment for swindling people through fake real estate projects.

The court obligated the suspects to pay compensation worth KD 5 million. The Public Prosecution charged seven individuals including a Kuwaiti citizen (the owner of real estate companies), a Kuwaiti woman (the owner of a real estate company), a Bahraini citizen, two Lebanese citizens and one Jordanian citizen of swindling people of KD 43 million during a period of four years. They deceived the victims into buying properties in foreign countries under the claim that these properties can be rented out at a high value.

The Public Prosecution charged them with money laundering involving KD 71 million of the victims’ money. Lawyer Ali Al-Attar from the Lawyer Meshari Al-Osaimi law firm filed the lawsuit on behalf of the victims. He said the bank transactions involving the suspects’ bank accounts and the dates of these transactions affirm that the suspects have been committing the crime for four years, which prove that their actions were preplanned and their crimes were committed deliberately. Lawyer Al-Attar explained that the suspects announced the availability of real estate in foreign countries for sale by publishing advertisements in media and social media.

They supported their deception by submitting real documents issued from the countries where the real estate properties are located. The documents were authorized by Ministry of Foreign Affairs in Kuwait as well as the Kuwaiti embassies in those countries. They then deceived the victims by claiming that the properties can ensure huge revenues in the form of rents.

They provided the victims with documents stamped by the relevant authorities in the foreign countries and authorized by Kuwait’s Ministry of Commerce and Industry to prove they are authorized to sell the properties. They also claimed that they deal with a major international audit company “Ernst & Young”, and invited the victims to sign the contracts in six law firms in Kuwait.

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