7 co-ops boards under probe

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KUWAIT CITY, Feb 14: Mai Al-Baghli, Minister of Social Affairs and Community Development, announced that she has referred 7 boards of directors of cooperative societies, and 36 employees of other cooperative societies, to the Public Prosecution Office, on charges of wasting public money and embezzling shareholders’ money, reports Al-Qabas daily. Al-Baghli explained that this referral came based on the results of the investigation committees formed by the Ministry to look into and investigate the work, activities and accounts of some cooperative societies, in addition to the dissolution of the board of directors of another society.

Al-Baghli referred to the great efforts of the Ministry’s employees to protect the shareholders’ and public money, as they took many steps to stop waste and misconduct by strengthening the oversight role in accordance with the applicable regulations, laws and systems. Al-Baghli also revealed that the reports submitted by the ministry’s observers resulted in the referral of “5 members of the boards of directors of cooperative societies, in addition to 3 former and current chairmen of boards of directors” to the Public Prosecution Office to complete special investigations into suspicions of corruption and their involvement in embezzling public money and stealing shareholders’ funds. The committee members have discovered suspicions of corruption, manipulation, and administrative and financial irregularities, and hence they were referred to the Public Prosecution.

This news has been read 11292 times!

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