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Sunday , September 27 2020

Top officials in money-laundering case freed on bail

KUWAIT CITY, July 14: The Public Prosecution has released Sheikh Sabah Al Mubarak and Hamad Al Wazzan on 50,000 dinars bail each and lawyer, Saud Al-AbdulMohsen on 10,000 dinars, reports Al- Seyassah daily.

On Wednesday, the Ministry of Interior had taken into custody Sheikh Sabah Jaber Al- Mubarak and his partner Hamad Ali Al-Wazzan in the so-called ‘Malaysian Fund’ fraud running in millions of dinars.

A reliable source had told the daily the arrest came following transfers of money to companies owned by the prime suspect Sheikh Sabah Al-Mubarak. The source hinted there is a possibility of arresting a fourth suspect, who is still unknown but his name is said to have popped up during investigations.

He is also believed to be a lawyer. In the context, well-informed sources told the daily Al- Mubarak has denied his knowledge of everything related to the case, and stressed that administrative matters were entrusted to Al-Wazzan and that he never interfered in such matters.

However, the new names that have popped in the case are related to the main accused, Al-Mubarak which came to the surface after their bank balances inflated. In another development, the case of the infamous Bangladeshi resident, who is also known as ‘Pablo’ and is a Member of Parliament in Bangladesh and allegedly owns a cleaning company in partnership with a Kuwaiti, the sources confirmed that the prosecution has completed the investigation with Sheikh Mazen Al-Jarrah yesterday afternoon.

He is charged with ‘bribery’ and money laundering 750,000 dinars, which Al- Jarrah has denied saying he was involved in commercial dealings with Pablo and another person who is believed to be a former contestant in the National Assembly elections confirming that he had commercial dealings with the former candidate named in the case in real estate portfolio.

The sources added the Prosecution confronted Al-Jarrah about money transfer (200,170 dinars) into his account and the latter told the Prosecution there were transactions between them and that the candidate has employment contracts of not less than half a million dinars, and that these transfers were related to the Bangladeshi labor and the goal was to increase the capital of the company.

Meanwhile, the Al-Rai daily said the Prosecution has slapped a travel ban on the suspects until investigations into the case are completed.

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