Egyptian expat gets life in jail, fined KD2mn for money-wash

09/03/2025

Egyptian expat gets life in jail, fined KD2mn for money-wash

KUWAIT CITY, March 9: The Criminal Court sentenced the head of the accounting unit of a major company, in which the state holds 25 percent of the capital, to life imprisonment. The Egyptian national was also dismissed from his job and fined two million dinars, which is twice the amount he is accused of laundering after obtaining it from his employer and using it to purchase real estate and gold bullion. The court also 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 on the stolen amount.

The Public Prosecution charged the first defendant with money laundering involving one million dinars, and accused him of deliberately possessing and acquiring the funds. He collected the money from the company using forged documents, then transferred it to several countries, and used it to purchase real estate, vehicles, and gold bullion to conceal the illegal source of the funds. The Public Prosecution charged the second defendant with participating, through agreement and assistance, in seizing public funds by providing the first defendant with the bank data of the company he managed, in exchange for the agreed upon five percent of the total amount involved in the crime.

By Jaber Al-Hamoud Al-Seyassah/Arab Times Staff

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Egyptian expat gets life in jail, fined KD2mn for money-wash

US national gets 7 years for role in crime