TDT | Manama The Daily Tribune – www.newsofbahrain.com The High Appeals Court acquitted a Bahraini man and his son of money embezzlement charges, citing a lack of evidence. The two had previously been found innocent by the Court of First Instance, but the plaintiff challeng
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
The High Appeals Court acquitted a Bahraini man and his son of money embezzlement charges, citing a lack of evidence. The two had previously been found innocent by the Court of First Instance, but the plaintiff challenged the ruling.
According to court files, the plaintiff gave the Bahraini man BD100,000 to invest through his companies, with a 10% profit agreement. However, after the specified time limit had expired, the defendant continued to stall.
As a result, he filed a complaint against him. A thorough investigation was launched against the defendant who transferred the ownership of his companies to his son.
He also emptied the accounts of his family to conceal the source of the money and legalise his income. Meanwhile, the defendant acknowledged receiving the money from the plaintiff, claiming it was a loan.
The defendant also presented proof that he paid a portion of the money he got. According to the High Appeals Court, because the defendant did not conceal the source of the money he received, he was acquitted of money embezzlement.
