The Public Funds Prosecution has referred a company which specializes in organizing the real estate exhibitions to the Criminal Court on charges of defrauding the citizens and selling fake real estate to them inside and outside Kuwait.
The Public Prosecution had earlier referred another company in a similar case that is currently being looked into by the same court, reports Al-Qabas daily.
The daily quoting judicial sources said the main accused in this new case — who the Public Prosecution has charged with money laundering and fraud — is an expatriate working as a director of the company.
The sources pointed out that the company practiced its business in accordance with the license of organizing real estate exhibitions based on Resolution No. 293 of 2013, which stipulates the responsibility of the company organizing the exhibition and the role of the Ministry of Commerce in ensuring the credibility of the companies participating in the exhibition, and the integrity of the projects presented inside or outside Kuwait.
Ot was finally discovered that some of the companies participating in the exhibitions which were held during 2013 until the end of 2017, exhibited fake real estate products.
This caused many citizens and residents hardships because they fell into the trap of criminal gangs and lost a lot of money and a result the suspects were accused of money laundering, which was confirmed by the criminal courts in 14 verdicts condemning real estate companies.
Attorney Ali Al-Attar from the office of Attorney Mashari Al-Osaimi praised the efforts made by the concerned authorities to return the money to their owners affected by the real estate fraud operations, and cited the procedures of the Office of Refund, Seizure and Follow-up of Funds according to Resolution No. 41 of 2022 issued by the Attorney General.