KUWAIT CITY, Aug 8: The prime accused in money laundering concerning the so-called ‘Malaysian Fund’ Sheikh Sabah Al-Mubarak allegedly sought to buy land in Malaysia the size of the Kuwait City for a whopping 200 million dinars, reports Al-Qabas daily quoting a source familiar with the issue.
The source pointed out, money had already been transferred to Malaysia, but it was ‘blocked’ after the party of Mahathir Muhammad won the elections and he was appointed Prime Minister.
The subsequent investigation of the corruption files, especially the file of the Malaysian Fund, and the arrest of the former prime minister Najib Abdul Razzaq opened the can of worms.
The source also pointed out a foreign bank operating in Kuwait, which transferred the money to Malaysia, remained mum on the transfer of money and did not report it at that time, and justified its silence, when asked, by saying, “We have confidence in our clients.”
The source added, during the investigations the first accused always requested for the presence of the second accused, Hamad Ali Al-Wazzan, saying the man was his financial advisor.
In 2018, the Financial Intelligence Unit addressed informed the security authorities, in line with protocol observed between parties, through what the authorities called ‘a fl imsy letter’ mentioning the money transfer to Malaysia. The source added, this step taken by the investigation unit looked suspicious and may indicate complicity with the prime accused.