10 Convicted of Banking Document Forgery as Kuwait Court Clears Money Laundering Charges

KUWAIT CITY, Nov 13: The State Security Court of Appeal has sentenced 10 defendants, including Kuwaiti citizens and expatriates, to three years in prison in a major financial case involving the manipulation of banking documents and fictitious company profits.

The court, headed by Counselor Abdullah Al-Sanea, with Counselors Mishaal Al-Mutawa and Saud Al-Mutairi as members, overturned an earlier ruling that had sentenced the defendants to 10 years in prison and imposed fines totaling KD422 million on the accused and several companies.

The Appeals Court ruled that the charge of money laundering had not been proven, leading to the acquittal of other defendants and companies from that charge and the cancellation of the earlier prison sentences and financial penalties linked to the alleged money laundering.

However, the court convicted the 10 defendants of forgery in banking documents, finding that they had manipulated documents relating to fictitious profits involving several companies. They were sentenced to three years' imprisonment.

The court also ordered a suspension of proceedings in the cases of two defendants who had previously been convicted in absentia.