Cairo: A Kuwaiti criminal court has begun trying seven expatriates accused of money laundering by illegally earning more than KD 60 million, a local newspaper reported.
The defendants are two Iranian nationals, three Jordanians and two Egyptians, as well as three local trading companies, Al Anba added.
The defendants are accused of having set up an organized criminal group to launder money. Prosecutors accused them of creating the group that committed the crime of money laundering of approximately KD 60.3 million during the period from July 1, 2019 to October 10, 2021.
Some of the defendants are accused of illegally collecting the money through a currency exchange company they run and handing over the money to two co-defendants who deposited it in bank accounts belonging to three companies authorized to carry out import and export activities.
All defendants in the case are also accused of carrying out an activity detrimental to the national interests of Kuwait by illegally setting up a huge financial system beyond the control of state surveillance agencies and making financial transfers to Kuwait. outside the country in a way that makes it difficult to identify the parties involved and undermines Kuwait’s anti-money laundering and counter-terrorist financing systems.
It is unclear which foreign parties are involved in the ring or when the court will make a decision in the case.