KD 200,000 Investment Scam: Kuwait Police Arrest Suspect, Hunt Second

KUWAIT CITY, Sep 5: Kuwait’s Criminal Investigation Department in the Capital Governorate has arrested a Bedoun suspect and executed an arrest warrant for a Kuwaiti citizen over their alleged involvement in defrauding around 15 people, mostly citizens, of nearly KD 200,000 through a fraudulent investment scheme.

According to a security source, the two suspects allegedly lured victims with promises of 20 percent monthly returns on investments in global stock markets and financial instruments, while assuring them that their principal could be withdrawn after two years under certain conditions. The victims initially received regular returns, but payments later declined sharply. When they demanded their money back, they were reportedly told the company was facing financial difficulties and that their funds were tied up in investments.

Following complaints filed at the Sharq Police Station, the Public Prosecution ordered the registration of a fraud case and directed detectives to apprehend the suspects. A security team subsequently arrested the Bedoun suspect. The Kuwaiti suspect had switched off his phone and fled from his residence to an unknown location, prompting authorities to issue an arrest warrant. Investigations are continuing to locate him and take the necessary legal action.

Authorities urged investors to verify the official licenses and legitimacy of investment companies and warned against schemes offering unusually high or guaranteed returns.