10 years for Syrian gang in huge money laundering case

KUWAIT CITY, July 26: The State Security and Terrorism Crimes Court sentenced a gang of nine Syrians to 10 years in prison after convicting them in one of the largest money laundering cases in the country, reports Al-Seyassah daily. The court also fined these Syrians and two general trading and perfume/incense companies a total of KD6,884,000. It ordered the permanent closure of the two companies and prohibited them from engaging in any commercial activity, while two other defendants were acquitted.

The court, presided over by Judge Nasser Al-Badr, with Judges Omar Al-Mulaifi, Abdullah Al-Faleh and Salem Al-Zayed as members, issued the verdict as the defendants were found guilty of money laundering and harming the interests of Kuwait. The Public Prosecution stated that the defendants formed an organized criminal group that laundered more than KD2.294 million -- proceeds from the crimes of harming national interests, forgery of bank documents, fraud, and operating an unlicensed money exchange business. Investigations revealed that members of the gang lured their victims through advertisements for food products on social media, and then sent them electronic payment links for stores within Kuwait wherein the amounts are different from the actual purchases.

The funds were used to buy various goods, which were received by the unsuspecting couriers, then resold and converted into cash. The prosecution added that the funds were collected and deposited into personal bank accounts and the accounts of two companies as business revenues. These funds were later transferred to bank accounts in China, India, Vietnam, Indonesia, Turkiye, Thailand and the United Arab Emirates (UAE) to purchase heavy equipment, which was then sent to Syria and sold for cash to conceal the illicit source of the funds.

The defendants were found guilty of establishing and managing an illegal financial system outside the scope of official oversight, thereby, harming the interests of Kuwait and jeopardizing its financial standing and credit rating. The convicted individuals engaged in banking activities without a license from the Central Bank of Kuwait. The charges included defrauding victims online by sending payment links for a jewelry store, instead of the actual value of the food products. This operation resulted in the purchase of gold coins without the knowledge of the victims. The court convicted three of the defendants of forging bank documents, as they submitted false information on deposit slips in the Commercial Bank of Kuwait.