Landmark verdict acquits two of fraud, deception, money laundering

In a landmark ruling, the Criminal Court of Cassation has acquitted two defendants of fraud, deception, and money laundering charges related to the illegal sale of chalets.

The court, according to Al-Jarida daily, ruled that the actions of the accused did not meet the criteria for fraud, as the project that was presented was genuine and the buyers received chalets under valid contracts.

The court also clarified that the funds involved were not proceeds of a crime, and there was no evidence of money laundering or fraudulent intent. The Public Prosecution’s appeal was rejected, and the acquittal was upheld.