Five jailed, fined for money laundering

TDT | Manama

Five persons were sentenced yesterday to three years in prison and fined BD100,000 each for money laundering. The High Criminal Court also fined the companies owned by the accused with the same amount and ordered to confiscate more than BD700,000 that was embezzled from a tourist resort in Bahrain.

The verdicts were announced in the retrial of the accused, as the court earlier sentenced the first and second to three years of imprisonment, and the remaining three to two years in jail. In a statement published online by the Public Prosecution, General Attorney Nayef Yousif Mahmood said: “The Public Prosecution had received a report stating that the first defendant, who works as a secretary to the board of directors of one of the companies that own a tourist resort in the country, had embezzled a cash amount of more than BD700,000 from shareholders’ profits by forging the signatures of those authorized on cheques, cashing them and appropriating their value.” Mahmood also noted that the first accused was assisted by the fifth, who works as an accountant for the same company.