Kuwaiti Car Office Owners Sentenced for Fraud, Embezzlement, and Money Laundering

Kuwaiti Car Office Owners Sentenced for Fraud, Embezzlement, and Money Laundering

KUWAIT CITY, Feb 5: The Criminal Court brought to conclusion the case of fraud, embezzlement and money laundering filed against two Kuwaiti citizens who owned a “luxury car office” and were imprisoned for ten years each. It obligated the first and second defendants to pay an amount of KD 16 million. The court obligated the company as a third defendant to pay an amount of KD 17 million and ordered to confiscation of the company’s funds, assets, and profits both inside and outside Kuwait. It also ordered the referral of the civil case to the competent civil court. Lawyer Abdul Mohsen Al-Qattam, in his capacity as the legal counsel representing a number of the victims, stated that the court does not consider the defendants’ denials, especially given the lack of evidence to support their claim that they did not commit the crime, stressing that the Public Prosecution brought them to trial with complementary evidence.
He insisted that the actions committed by the defendants that harmed the victims and disrupted commercial transactions require that they be punished with the harshest penalties stipulated by the law, so that the rights are restored to their owners and the prestige, trust, and good faith of those dealing with them are restored to this area. Lawyer Al-Qattan explained that the defendants face charges of fraud, embezzlement, and money laundering of large sums after they were accused by more than 500 people inside and outside Kuwait of defrauding them by supplying various vehicles and laundering their money obtained from the fraud crime. They transferred the amounts they collected from the victims, which are estimated at more than KD 17 million, and 1.5 million Qatari riyals, to hide their illegal source, after he deluded them of the possibility of purchasing luxury vehicles at a lower price from the agencies and having them shipped and delivered to them. The Public Prosecution accused the citizens and a general trading and contracting company of deceiving others about their ability to buy and import cars from abroad at competitive prices lower than their actual value and to deliver them within a record period.

The post Kuwaiti Car Office Owners Sentenced for Fraud, Embezzlement, and Money Laundering first appeared on ARAB TIMES – KUWAIT NEWS.

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