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Wednesday , September 30 2020

Verdicts upheld against couple, others in real estate fraud, money laundering case

KUWAIT CITY, June 25: The Court of Cassation upheld several jail terms ranging between three to ten years issued against a Kuwaiti woman and her husband who is a businessman as well as other individuals who are all accused of real estate fraud and laundering amounts totaling KD 72 million.

Previously, the Court of Appeals had sentenced two of them to ten-year imprisonment and one of the defendants’ wife and three others to three-year imprisonment, and dismissed the trial of another defendant who was accused of money laundering and evading custom tax valued at KD 72 million and a fine of KD 5 million.

According to the case file, the suspects managed to con more than 2,000 people through a real estate scheme, which promised them huge financial returns as a result of investments mostly in real estates in the USA, and also in sports and health fields.

The scheme was presented to the unsuspecting victims without any information about its huge financial and legal liabilities. It was sold to them but the fraudsters informed their victims the scheme was on a rental basis. The entire complex has been idle since 2008, which is immediately after the global economy crisis.

Meanwhile, the Appeals Court has adjourned a petition filed by Undersecretary at the Ministry of the Electricity and Water Mohammad Boushahri and an employee against a verdict in which they were fined KD4,000. They were convicted of publishing confidential administrative information on the ministry’s Twitter account and the next hearing is July 1, 2019.

By Jaber Al-Hamoud Al-Seyassah Staff and Agencies

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