Unionist acquitted in gold bars fraud case

A renowned Bahraini unionist was yesterday acquitted by the Minor Criminal Court of providing financial and investment services without authorisation from the Central Bank of Bahrain (CBB).

The man was arrested when a complaint was received from a woman claiming that she had bought a gold bar from a shop owned by the defendant for BD10,000 on an installment basis but later found out that the bar was worth not more than BD1,500.

The man was referred to the court by the Public Prosecution after accusing him of offering financial and investment services, by selling goods on an installment basis without obtaining the necessary permit from CBB, and in violation of the CBB Law.