An international network that embezzled the funds of Kuwaiti retirees has been brought down.
Following a complaint filed by lawyer Abdullah Al-Kandari, the Criminal Court:
Sentenced seven defendants—including Kuwaitis and two Americans—to life imprisonment, fined them KD 98 million, and ordered them to repay KD 49 million.
The defendants were found to have misappropriated funds from an investment fund financed by the Public Institution for Social Security (PIFSS) and the Kuwait Ports Authority through fictitious transactions and fabricated arbitration claims in Dubai, the United States, and the Cayman Islands.
