Kuwait’s Largest Money Laundering Story Comes Ends

Kuwait’s Largest Money Laundering Story Comes Ends – 10 year Jail Sentence to the Ruling Family Member

Another stringent move in mitigating the global Money Laundering crime has been witnessed and reported hours ago. The Gulf belt which is already notorious for its opulence and lavish lifestyle where Saud’s rule it all and have it all are now facing some serious legal tensions against them.

The Criminal court just sentenced a member of the ruling family, his partner and few others in 10 year prison, their lawyer a 7 year sentence in the largest Money Laundering case in Kuwait’s history. Not only that, but the court also ordered the accused and now proven guilty to return $ 1 billion which was laundered and to pay the fine of almost 0.5 billion dollars. International sources lacked information for which the case was reopened.

Investigations revealed that $1 billion was laundered through a Kuwaiti account of an influential individual. Main suspect, who is the son of a former Prime Minister and other defendants attended previous court hearings.

Police officer Nasser Al Tayyar and his lawyer Amer Al Shahoumi attended the court’s final hearing and claimed civil temporary compensation of KD 5001 as he supervised the first investigation and is the director of Anti-Money Laundering department.

It is reported that one of the defendants, acquired the Money through his company’s bank account and his personal accounts. The bank where the accounts were opened is Industrial and Commercial Bank of China, Kuwait Branch. Investigations also revealed a complex structure of Money Laundering trails and a network of financial operations in the Cayman Islands. Mainly, the prosecution accused the defendants of Money Laundering involving Chinese Currency Yuan totaling 343 million. The money was reportedly stolen from the Malaysian Sovereign Fund.

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