Businesswoman Convicted for Money Laundering, Faces Four-Year Imprisonment and Penalty of 1,152,100 Dinars
A Kuwaiti businesswoman has been sentenced to four years in prison with hard labor and fined 1,152,000 Kuwaiti dinars for her involvement in a high-profile money laundering case. The verdict was handed down by the Court of Cassation and upheld a ruling from a lower court.
The businesswoman was found guilty of defrauding several citizens in a fake UK apartments scam. She falsely claimed to offer residential apartments in the UK targeted at Kuwaiti students, convincing parents that she owned properties near British universities. In exchange for reserving these apartments, which did not exist, she collected large sums of money.
Investigations revealed that the businesswoman operated the fraudulent scheme with an Egyptian accomplice who fled the country after the scam was uncovered. The money laundering activities continued until her arrest, and she was charged with fraud and money laundering related to these activities.
The Court of Cassation upheld the lower court's ruling, confirming the businesswoman's guilt and making the verdict final. The fine imposed in the case is 1,152,100 dinars.
The news about the case was first reported by Al-Rai daily, with details emerging about the fraudulent real estate schemes that were a method used in the money laundering case. The money laundering involved students who were near universities in the United Kingdom, with the apartments being sold to them.
No additional personal details or name of the businesswoman were provided in the available information. However, it is known that she is a Kuwaiti national who conducted her money laundering activities in the United Kingdom. The Court of Cassation's decision marks a significant milestone in the fight against money laundering in Kuwait.
- The businesswoman's involvement in the money laundering case also encompassed a fraudulent scheme related to the sale of non-existent apartments in the UK, aimed at Kuwaiti students.
- The guilty businesswoman's crimes extend beyond the money laundering case and include defrauding several citizens through a fake UK apartments scam, a significant development in the fight against crime-and-justice and general-news pertaining to financial fraud in Kuwait.
