The total amount of money stashed away in bank accounts of the perpetrator from her real-estate fraud and money laundering is approximately KD29 million, in addition to other sums in foreign currencies amounting to 300,280,000 pounds sterling, Al Qabas daily said.
The supervisory authorities looked into the accounts of the citizen accused in real estate fraud, who was apprehended by Interpol in cooperation with a Gulf state. She was held guilty of committing money laundering crimes with a group of other defendants who were also involved in her real estate fraud scheme. It was reported she deceived more than 50 citizens into buying properties in Europe.
According to the case, the main defendant and her partners announced investment opportunities through two real estate marketing companies based in Kuwait, which included real estate projects in several foreign countries such as Spain, London, Bulgaria and Turkey, Oman’s Salalah and Dubai, in addition to real estate projects in Kuwait, one of which was apartments. These were marketed to innocent victims who provided large sums of money with the hope of turning of profit from their investments. These projects did not exist, and the perpetrators made off with all their money.
The Criminal Court had sentenced the Kuwaiti woman and her partner, who is still at large, to seven-year imprisonment with hard labor, and imposed a fine of about KD 70 million in December.
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