Kuwait: 10-year jail term against real estate boss over fake deals
Defendant ordered to pay KD 3 million fine; the verdict is final
Cairo: Kuwait's top appeals court has confirmed a 10-year imprisonment sentence against the manager of a real estate company on charges of fraud linked to the sale of phantom buildings.
The court also ordered the defendant pay a fine of KD3 million. The verdict is final.
The case is related to fake real estate deals in Turkey to several Kuwaiti citizens, Ali Al Attar, a lawyer for the victim, said.
"This ruling is irreversible. The competent agencies are committed to complying with it to track the money in any account (belonging to the defendant) and pay compensation to the victims," he told Al Qabas newspaper.
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Nearly 10,000 fraud and swindle cases have been brought before courts in Kuwait over the past three years amid a warning of a spike in the illegal practice.
There has recently been a rise in fraud cases in Kuwait despite repeated warnings from authorities to citizens and expatriates to be on guard against potential fraudsters and their ruses, Al Qabas has recently quoted what it termed as a well-informed source.
"The cases heard by courts and set for decisions sometimes reach 10 cases a day, entirely pertaining to swindle and fraud crimes. This means the perpetrators are increasing despite campaigns that sound the alarm over their tricks," the source said.
Cases related to real-estate scams rank the first, followed by phantom investment deals inside Kuwait or abroad, and fraud linked to luxury car purchases, according to the source.
Despite the rise in the numbers of fraud victims and circulation of their stories, more victims continue to fall victim to swindlers' innovative tricks and duping tactics, the source remarked.