Tag Archives: money laundering

7 currency exchange houses in UAE punished

ABU DHABI: The United Arab Emirates’ decision to punish seven currency exchange houses is unrelated to a crackdown on a network funnelling illicit funds to Iran, the UAE central bank said on Sunday. “The seven exchange houses had their licences downgraded because they were found to be in violation of …

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Kuwaiti acquitted of money laundering – No crime committed: lawyer

KUWAIT CITY, May 6: The Criminal Court has acquitted a Kuwaiti man of money laundering and usury involving a sum of KD 18,000. The Public Prosecution Department charged the man for laundering KD 18,300 within a period of five months by deliberately obtaining money, possessing, using and transferring the sum …

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Ministry imposes new controls on financial transfer overseas

KUWAIT CITY, April 29: Assistant Undersecretary for Social Development Sector Affairs at the Ministry of Social Affairs and Labor Hana’a Al-Hajri has said the ministry has imposed new controls on the transfer of money (donations) outside the country, reports Al-Jarida daily. Al-Hajri said written approval is needed from the Ministry …

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Employees of real estate company accused of laundering KD 8m freed

KUWAIT CITY, April 10: Detention Renewal Judge at the Criminal Court released the employees of a major real-estate company who were accused of money laundering amounts reaching KD 8 million. The defense counsel Lawyer Abdulwahab Bin Salama stressed that the reasons for remanding his clients do not exist, assuring that …

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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 …

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Fraud money exchange shut

KUWAIT CITY, March 27: The concerned authorities have shut down a money exchange office for cheating expatriates and bedoun, reports Al-Anba daily. The daily quoting police said this came after the security authorities received several complaints that the money they sent to their family and friends was not delivered. Sources …

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Five Kuwaiti citizens jailed for joining ‘Qaeda’ terror group

KUWAIT CITY, Feb 13: Five Kuwaiti citizens who were accused of joining Al-Qaeda terrorist organization have been each sentenced to five-year imprisonment with hard labor by the Criminal Court, says Al-Seyassah. A State Security case had been filed against them and they were charged with joining Al-Qaeda terrorist organization and …

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Travel ban on girl cancelled; Six acquitted in IS terror funding

KUWAIT CITY, Jan 30: The Family Court cancelled an order for imposing a travel ban on a minor Kuwaiti girl, who is under the custody of her mother. Lawyer Khawlah Al-Hassawi, who represents the mother of the girl, explained that her client’s former husband had initiated the travel ban order …

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Jail, fine for 19 in real estate fraud, money-laundering case

KUWAIT CITY, Jan 23: The Criminal Court presided over by Judge Saoud Al-Sane’a issued a verdict in a case of real estate fraud and money laundering filed against 19 employees of T-MAS Real Estate Company and a number of its affiliated companies. The court sentenced the first suspect to two-year …

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Money Laundering network busted

KUWAIT CITY, Nov 7: Ministry of Interior busted a money laundering network of a Bedoun and two Kuwaiti brothers after intensive investigation proved the suspects were actually involved in suspicious deals, which included procuring and reselling of vehicles in large numbers, reports Al-Qabas daily. A security source said one of …

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