Cryptocurrency gang jailed for 10 years

16/04/2026

Public Prosecution in Kuwait announces a new timeframe for court judgment implementation.

KUWAIT CITY, April 16: The Criminal Court sentenced members of a gang involved in cryptocurrency and gold trading fraud to 10 years in prison and fined them KD157,000 -- the amount they stole from the victim. Case details indicate that the defendants lured a retired citizen through a fake advertisement promising quick profits from investing in cryptocurrencies and gold. This prompted the victim to borrow money, hoping for a substantial return. However, after transferring the funds, he discovered he was swindled. The defendants took the money without a real investment. The authorities then arrested them and referred them for trial.

By Jaber Al-Hamoud Al-Seyassah/Arab Times Staff