Kuwait Jails Defendants in One of Largest Money Laundering Cases

 An aerial view shows Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. REUTERS/Stephanie McGehee/File Photo
An aerial view shows Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. REUTERS/Stephanie McGehee/File Photo
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Kuwait Jails Defendants in One of Largest Money Laundering Cases

 An aerial view shows Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. REUTERS/Stephanie McGehee/File Photo
An aerial view shows Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. REUTERS/Stephanie McGehee/File Photo

The Criminal Court in Kuwait ruled that a member of the ruling family, his partner, and two expatriates be imprisoned for 10 years, and a lawyer for 7 years, obliging them to return one billion dollars and fining them jointly an amount of 145 million Kuwaiti dinars (equivalent to half a billion dollars), in the largest money laundering case, known as the Malaysian Fund.

The Public Prosecution has recently reopened the case, after a two-year hiatus due to the failure to receive information from international bodies.

The original case in Malaysia dates back to 2016, when US prosecutors filed a lawsuit with the aim of recovering assets worth more than one billion dollars, which they say were related to an international conspiracy to launder money embezzled from the Malaysian sovereign fund, 1MDB, which is supervised by the former Prime Minister, Najib Abdel-Razzaq, and was used to finance a Hollywood movie, and to buy real estate and famous works of art.

The case unfolded in Kuwait in May 2020, after US officials in the Defense Department provided information to the former (late) Kuwaiti Defense Minister Sheikh Nasser Sabah Al-Ahmad, indicating the involvement of a number of former officials in facilitating suspicious financial operations in favor of Chinese and Malaysian companies through suspicious projects.

In Kuwait, investigations proved that nearly a billion dollars entered the account of an influential Kuwaiti personality, and then re-transferred abroad. Investigations link a Malaysian expert accused in this case with the son of a former Kuwaiti prime minister, who cooperated to open channels to transfer funds using intermediary companies.

On July 10, 2020, the Kuwaiti Public Prosecution ordered the arrest of Sheikh Sabah Jaber Al-Mubarak, son of the former prime minister, for his involvement in the Malaysian Fund case. An accomplice was also arrested.

That same year, on Aug. 10, an order was issued to refer the defendants in this case to trial. On Sept. 30, the Criminal Court postponed the trial of the defendants in the Malaysian Fund case to Oct. 25, 2022.



Iran Signals Readiness to Expand Economic, Cultural Ties with Saudi Arabia

Saudi Crown Prince meets Iranian Foreign Minister Abbas Araghchi in Jeddah on Tuesday — SPA
Saudi Crown Prince meets Iranian Foreign Minister Abbas Araghchi in Jeddah on Tuesday — SPA
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Iran Signals Readiness to Expand Economic, Cultural Ties with Saudi Arabia

Saudi Crown Prince meets Iranian Foreign Minister Abbas Araghchi in Jeddah on Tuesday — SPA
Saudi Crown Prince meets Iranian Foreign Minister Abbas Araghchi in Jeddah on Tuesday — SPA

Iran’s ambassador to Saudi Arabia, Alireza Enayati, described Iranian Foreign Minister Abbas Araghchi’s recent visit to Riyadh as a clear sign on Tehran’s willingness to deepen economic and cultural relations with the kingdom.

Speaking to Asharq Al-Awsat, Enayati said Tuesday’s visit focused on reviewing bilateral ties and cooperation between Saudi Arabia and Iran. He emphasized Tehran’s commitment to strengthening relations with Riyadh and neighboring countries based on good neighborliness and shared interests.

During the visit, Araghchi held a series of high-level meetings with key Saudi officials, including Crown Prince and Prime Minister Mohammed bin Salman, Defense Minister Prince Khalid bin Salman, and Foreign Minister Prince Faisal bin Farhan.

Enayati said Iran is ready to broaden cooperation with Saudi Arabia across economic, trade, and cultural sectors. He highlighted that the Crown Prince expressed satisfaction with the growing understanding and collaboration between the two leading Muslim nations.

The ambassador, who attended the meetings, added that the Crown Prince reaffirmed Saudi Arabia’s determination to continue advancing this path and develop relations in all fields.

Enayati also recalled Saudi Arabia’s condemnation of military aggression against Iran’s territorial integrity and sovereignty.

He said the Crown Prince stressed that regional security and stability depend on cooperation and understanding among countries in the region. This includes leveraging all capabilities to prevent escalation and insecurity and prioritizing diplomatic tools to resolve disputes, according to Iran’s envoy.

Saudi Crown Prince Mohammed bin Salman expressed hope that the recently agreed ceasefire will help foster security and stability across the region, Saudi state news agency SPA reported.

During a reception for Araghchi in Jeddah, the Crown Prince reaffirmed Riyadh’s support for resolving disputes through diplomatic dialogue, describing it as the best path to lasting peace.

Araghchi thanked Saudi Arabia for its condemnation of Israeli aggression and praised the Crown Prince’s efforts to bolster regional security and stability.

Enayati conveyed Araghchi’s praise for “fruitful” security and defense consultations between the two countries.

Enayati described a recent visit to Tehran by Saudi Defense Minister Prince Khalid bin Salman as “highly significant and effective in advancing cooperation to strengthen regional security and stability.”

He added that Prince Khalid firmly condemned Israeli military aggression against Iran and extended condolences for the deaths of Iranian military and civilian figures in the attacks, according to the Iranian ambassador.

Prince Khalid took to X to outline the scope of his recent talks with Araghchi, emphasizing bilateral cooperation and regional security.

On his part, Enayati told Asharq Al-Awsat that Araghchi expressed gratitude to the Saudi government for its “valuable assistance” in facilitating the return of Iranian pilgrims amid disruptions caused by Israeli military aggression against Iran.

Enayati also relayed comments from Araghchi attributing recent Israeli attacks to what he described as the “impunity” enjoyed by the Israeli regime for its crimes against the Palestinian people and ongoing aggression toward other regional states.

The Iranian foreign minister strongly condemned the continued killing and displacement of Palestinians and the ongoing occupation.

He further denounced Israel’s repeated strikes against Lebanon and Syria, condemning the United Nations Security Council’s “silence and inaction,” which he described as a key factor in regional insecurity.