Egyptian expat receives life in prison, amended KD2MN for money laundering

Kuwait City, March 9: The Criminal Court condemned the head of the accounting unit of a major company, in which the state owns 25 % of the capital, in life imprisonment. The Egyptian national was also dismissed from the workplace and fined two million dinars, which is twice the amount that is accused of washing it after obtaining it from its employer and used to buy real estate and gold ingots. Also, the court sentenced the second defendant, an American national, to seven years in prison. He worked for another company and participated with the first defendant in committing the crime, receiving a five percent commission for the stolen amount.

The public pursuit accused the first defendant with the money laundering that involved a million dinars and accused him of deliberately held and purchased the funds. He raised the money from the company using falsified documents, then transferred it to several countries and used it to purchase real estate, vehicles and gold ingots to hide the illegal source of funds. The public pursuit accused the second defendant of participating, by agreement and assistance, in the confiscation of public funds by providing the first defendant with the banking data of the company he managed, in exchange for those agreed with five percent of the total amount involved in the crime.

By Jaber al-Hamoud al-Seyassah/Arabic Times Personal