Latest news with #557.882
Gulf Insider
a day ago
- Business
- Gulf Insider
Appeal Against Jail Terms, Fines In 'Dirty Money'
Four defendants have lost their appeal against prison terms and fines in a money laundering case tied to human trafficking and prostitution earnings. Judges upheld a five-year sentence for each, along with a BD100,000 fine, and ordered the confiscation of BD175,557.882 from their assets. Three of them, identified as the first, third and fourth accused, will also be deported. The case unfolded following investigations by a First Lieutenant at the Financial Intelligence National Centre (FINC). Inquiries He told prosecutors that inquiries had been carried out using unnamed sources. The first accused, he said, ran a criminal ring trading in women, and the others played various parts in handling the proceeds. Cash made through these crimes was funnelled through different financial dealings, including overseas transfers made through local exchange houses. The amounts varied, and the transfers were spaced aim, according to the findings, was to cover the tracks. Accounts Authorities moved to examine accounts and property linked to the accused. Letters were sent to several government bodies. The data pointed to regular use of exchange houses, currency swaps and remittances, enough, the court ruled, to uphold the convictions. Also read: Qatar To Compensate Citizens For Damage Caused By Missile Debris
Daily Tribune
2 days ago
- Business
- Daily Tribune
Appeal against jail terms, fines in ‘dirty money' case rejected
Four defendants have lost their appeal against prison terms and fines in a money laundering case tied to human trafficking and prostitution earnings. Judges upheld a five-year sentence for each, along with a BD100,000 fine, and ordered the confiscation of BD175,557.882 from their assets. Three of them, identified as the first, third and fourth accused, will also be deported. The case unfolded following investigations by a First Lieutenant at the Financial Intelligence National Centre (FINC). Inquiries He told prosecutors that inquiries had been carried out using unnamed sources. The first accused, he said, ran a criminal ring trading in women, and the others played various parts in handling the proceeds. Cash made through these crimes was funnelled through different financial dealings, including overseas transfers made through local exchange houses. The amounts varied, and the transfers were spaced out. The aim, according to the findings, was to cover the tracks. Accounts Authorities moved to examine accounts and property linked to the accused. Letters were sent to several government bodies. The data pointed to regular use of exchange houses, currency swaps and remittances, enough, the court ruled, to uphold the convictions.
