Cairo: An imprisoned former Bangladeshi lawmaker, convicted on money laundering and human trafficking in Kuwait, has renounced stakes worth KD2.5 million he owned to a Kuwaiti citizen, Kuwaiti newspapers reported.
In November last year, Kuwait’s top appeals court sentenced former MP Mohammed Shahid to seven years in prison and ordered him to pay a fine of KD2.7 million on charges of human trafficking and money laundering.
Shahid has renounced his stakes in three Kuwaiti firms to the benefit of an unidentified Kuwaiti man, Al Anba said.
The convict, who is still in prison, owns a total of 49 per cent of the three companies working in trade, contracting and cleanliness, the paper added.
Al Qabas, another Kuwaiti paper, reported that the country’s Ministry of Commerce and Industry had approved a request presented by Shahid’s agent for renouncing his stakes in the three firms to a Kuwaiti citizen.
It was not immediately clear if the reported renunciation is part of a deal.
According to a final court verdict handed down to Shahid, he will be deported from Kuwait after he serves his jail term.
