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Kuwait Court Concludes Major ‘Malaysian Fund’ Money Laundering Case

Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
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Kuwait Court Concludes Major ‘Malaysian Fund’ Money Laundering Case

Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)

Kuwait’s Court of Cassation on Thursday concluded the country's largest money laundering case, known as the “Malaysian Fund” scandal.

The court, led by Judge Saleh Al-Muraishid, sentenced Sheikh Sabah Jaber Al-Mubarak, son of the former Prime Minister, and his associates Hamad Al-Wazzan, Bashar Kiwan, and two expatriates to 10 years in prison.

A lawyer involved in the case received a seven-year sentence.

The court also ordered the defendants to return $1 billion and collectively fined them 145 million Kuwaiti dinars (about $500 million).

The “Malaysian Fund” case involves fake transactions and forged contracts between companies in Kuwait and China. Investigators from Malaysia and the US estimate that around $4.5 billion was embezzled from the fund since 2009, implicating the former Malaysian prime minister.

Kuwait’s Public Prosecution reopened the case after a two-year pause due to lack of information.

On March 28, 2023, the Criminal Court sentenced a member of the ruling family, his associates, and two expatriates to 10 years in prison, with a lawyer receiving seven years.

They were ordered to return $1 billion and fined 145 million Kuwaiti dinars.

The original case in Malaysia dates back to 2016 when US prosecutors filed a lawsuit to recover over $1 billion allegedly tied to a conspiracy to launder money from the Malaysian sovereign wealth fund 1MDB, overseen by former Malaysian premier Najib Razak.

The funds were used to finance a Hollywood film, buy real estate, and acquire famous artworks.

In May 2020, the scandal surfaced in Kuwait after US defense officials provided information to the late Kuwaiti Defense Minister, Sheikh Nasser Sabah Al-Ahmad, revealing the involvement of several former officials in suspicious financial transactions for Chinese and Malaysian companies.

Investigations in Kuwait showed nearly $1 billion had been transferred into the account of an influential Kuwaiti figure before being rerouted abroad.

The inquiry linked a Malaysian financial expert accused in the case to the son of a former Kuwaiti Prime Minister, and they collaborated to channel the funds through intermediary companies.

On July 10, 2020, Kuwait’s Public Prosecution ordered the arrest of Sheikh Sabah Jaber Al-Mubarak and his associate in connection with the “Malaysian Fund” case.

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Saudi Arabia Urges Global Support for Two-State Solution Alliance

A group photo from the third Asia Cooperation Dialogue summit in Doha, Qatar (SPA)
A group photo from the third Asia Cooperation Dialogue summit in Doha, Qatar (SPA)
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Saudi Arabia Urges Global Support for Two-State Solution Alliance

A group photo from the third Asia Cooperation Dialogue summit in Doha, Qatar (SPA)
A group photo from the third Asia Cooperation Dialogue summit in Doha, Qatar (SPA)

The ongoing Israeli war on Gaza and Lebanon, along with rising regional tensions, took center stage at the third Asia Cooperation Dialogue (ACD) summit in Doha, which began on Thursday.
Saudi Arabia urged countries to back the two-state solution to the Israeli-Palestinian conflict as a key step toward resolving the Middle East crisis.
Speaking on behalf of Crown Prince Mohammed bin Salman, Saudi Foreign Minister Prince Faisal bin Farhan attended the ACD summit and highlighted how continued violence in the region is disrupting international trade and fueling political tensions, which threaten investments and economic cooperation.
“The continuation of aggression and violations in the region hinder the movement of international trade and increase political tensions that threaten the flow of investments and economic cooperation between the countries of the region and the world,” he said.
He called for peaceful and diplomatic solutions to regional conflicts to ensure the region’s prosperity.
“We thank Asia Cooperation Dialogue countries for their support for the two-state solution and their recognition of the State of Palestine, and we urge the rest of the world to follow suit,” Prince Faisal said, reminding that the situation has prompted the Kingdom to work with “brothers and allies in establishing a Global Alliance to Implement the Two-State Solution.”
He stressed that the current unrest in Palestine and Lebanon is a major barrier to economic and commercial development in the region.
Iranian President Masoud Pezeshkian reaffirmed Iran’s continued support for resistance groups.
“The Zionist enemy will be punished, and we will keep supporting the resistance until Palestine is liberated,” said Pezeshkian.
Also speaking at the ACD summit, he emphasized: “Those who violate human rights must know that resistance is strong and cannot be eliminated.”
Pezeshkian reiterated Iran’s backing for Palestinian resistance.
After meeting with a Hamas delegation in Doha, Pezeshkian warned that Israel’s ongoing actions had led Iran’s military to deliver a decisive response.
“Israel couldn’t commit these crimes without backing from the US and Europe. If Israel makes any mistake against Iran, it will face a much stronger retaliation than Tuesday’s attack,” he said.
Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani, denounced Israel’s actions in Gaza as “genocide” and warned of the consequences of not holding Israel accountable for its crimes against humanity.
Speaking at the summit, Sheikh Tamim said: “Qatar has long warned about the dangers of not addressing Israel’s crimes.”
He pointed to the escalating violence in Gaza, noting that true security can only be achieved through a just peace, which includes creating an independent Palestinian state within the 1967 borders.
He stressed that Qatar will continue to support the Palestinian people in their fight for their legitimate rights.
“Israel’s relentless attacks on civilians in Gaza and other occupied areas have killed over 41,000 innocent people. What’s happening is genocide, and Gaza is being made uninhabitable to force its residents out,” said Sheikh Tamim.
He also condemned Israeli airstrikes on Lebanon, accusing Israel of using international inaction to expand settlements in the West Bank and prepare for annexation.
“We believe in de-escalating tensions and respecting nations’ sovereignty,” he added, stressing that Israel is taking advantage of global silence to push its agenda in the West Bank and Lebanon.
Palestinian President Mahmoud Abbas also called for urgent international intervention to stop Israeli aggression in Gaza and Lebanon.
He warned that Israel’s attacks have destroyed over 90% of Gaza’s infrastructure.
“Peace cannot coexist with occupation, genocide, and the denial of the Palestinian people’s rights,” Abbas reaffirmed at the ACD summit.