A senior oil company official, along with other officials have been terminated and referred to the public prosecution for allegedly siphoning off state funds to a private company.<\/p>\n
The senior official, working in collusion with other company officials, are accused of embezzling more than KD5 million from an unnamed oil company, which is said to be a subsidiary of state-owned Kuwait Petroleum Corporation (KPC).<\/p>\n
The suspect is alleged to have signed a training contract with a company that he directly owned, and with the help of other officials provided training courses for the oil sector employees, without any apparent need, justification or benefit to the attendees. The contract was valued at KD1 million annually and is said to have commenced in 2014.<\/p>\n
The embezzlement came to light when two investigation committees, formed to probe the contract and its transactions, separately concluded that numerous violations and issues of conflicts of interest were involved in the contract.<\/p>\n
Other senior officials suspected of being involved in the embezzlement are also believed to be under investigation, even though they have since been transferred to subsidiary companies and are holding senior positions there.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
A senior oil company official, along with other officials have been terminated and referred to the public prosecution for allegedly siphoning off state funds to a private company. The senior official, working in collusion with other company officials, are accused of embezzling more than KD5 million from an unnamed oil company, which is said to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,18],"tags":[2979,2978],"class_list":["post-29787","post","type-post","status-publish","format-standard","hentry","category-featured","category-local","tag-embezzling-state-funds","tag-oil-company"],"yoast_head":"\n