The Public Prosecution released its final reports on the Kuwaiti beauty ecommerce startup Boutiqaat finding the company completely free on money laundering charges, Al-Qabas daily reported.
Sources confirmed to the daily that the company was guilty of some commercial violations only, after the prosecution investigated the reports of the expert committee in charge of the file, and a number of other reports.
These statements coincide with what an informed source said to Al-Qabas on December 19, 2020, that the papers examined by the Committee of Experts showed the company’s position was solid, after an examination of papers, documents, international shipping records, records of the company, suppliers, and customers.
The company’s bank balances have been frozen for more than 6 months, and the decision to open the funds is linked to the report of the expert committee.
The case against Boutiqaat started on July 27, 2020, when the Public Prosecution moved on the headquarters and had it under observation following suspicions that the company was involved in money laundering.
Boutiqaat stated in a statement that it operates in full transparency, without violating the law, stressing the commitment to accounting, financial and regulatory standards continuously and consistently through all its dealings with all business parties.
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