Two convicted of money laundering
TDT | Manama
Email: mail@newsofbahrain.com
The Deputy Chief Prosecutor of Financial Crimes and Money Laundering said that the First High Criminal Court has convicted two defendants of laundering money obtained from an online fraud crime.
The court sentenced the first defendant to five years in prison and the second defendant to eight years in prison.
Both were also fined BD200,000.
The court ordered the confiscation of BD36,830.816, or any other money owned by the defendants equal to the value of the crime proceeds.
According to the prosecution, the case began after a report from the National Financial Intelligence Center.
Investigations showed that an online fraud was committed against a foreign company for more than 74,000 Bahraini dinars by the first defendant while he was outside Bahrain.
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