publish time

15/01/2016

author name Arab Times

publish time

15/01/2016

KUWAIT CITY, Jan 14: The Public Prosecution has summoned some employees of Kuwait Stock Exchange (KSE) and a brokerage company concerning the process carried out by Hamad Al-Haroun, who impersonated an official, to transfer Unicapita shares owned by Qatar-based Construction Development Company, reports Al-Rai daily quoting sources. Sources confirmed the KSE received a letter from the Prosecution regarding the complaint filed by Construction Development Company against Al-Haroun, since the KSE employees’ presence was required in transferring the Unicapita shares owned by the company.

Sources said the letter pointed out that Attorney Ibrahim Muhammed Al-Kandari, in his capacity as representative of the company, filed the complaint against Al-Haroun accusing him of embezzling company funds through the transfer of shares.

Sources revealed Al-Haroun claimed to be an official of Construction Development Company in a letter he sent to the brokerage company, stating the approval to sell 8.3 million of its shares in Unicapita at 20 fils per share to Al-Masar Rental and Investment Company. Sources added Al-Haroun also forged the company seal to make the letter appear legitimate, indicating the accused had earlier evaded 10-year imprisonment imposed on him and he is said to be involved in the Fintas Group.