21/05/2026
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21/05/2026
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KUWAIT CITY, May 21: A Kuwaiti court has sentenced a Kuwaiti woman, three Egyptian partners, and a Bedoun (stateless) broker to five years in prison with hard labor and imposed a collective fine of approximately KD 5.3 million in a major real estate fraud and money laundering case. The defendants were found guilty of deceiving victims through the sale of non-existent beachfront chalets in Kuwait and Egypt, using fraudulent property listings to collect large sums of money from buyers.
The court also acquitted a Kuwaiti man and woman who had been accused of acting as nominal partners of the company owner, along with three real estate brokers involved in the case. The ruling follows investigations that uncovered an organized scheme involving false property deals and financial transactions aimed at laundering proceeds obtained through deception, marking one of the significant real estate fraud cases prosecuted in the country.
