Four Expats Head to Trial for BD3.3 Million Scam and Money Laundering in Bahrain

The Public Prosecution has sent four foreign nationals, sending them to criminal court for a list of charges. These include collecting and receiving investment funds without a license, forging private documents, falsifying data in an IT system, and writing bad checks. Oh, and let’s not forget the big one: money laundering to hide their dirty money and make it look legit. This hot-off-the-press news comes straight from the Head of the Financial Crimes and Money Laundering Prosecution.

Here’s the tea: The National Financial Intelligence Centre discovered that one of these guys, who’s got a shady international history, landed in Bahrain under a fake name. He set up a company for trading collectibles and memorabilia. And started raking in cash from people for investments—without any legal green light. He had some partners in crime who helped him set up the company, tamper with a private company’s IT data, and forge documents.

The Financial Crimes and Money Laundering Prosecution dug deep and found that the main suspect collected over three million three hundred thousand Bahraini Dinars from investors and wrote bad checks. They also uncovered the roles of the other suspects in the forgery schemes, all aimed at swindling people and dodging justice. The prosecution checked out all the shady documents, unsealed the suspects’ and the company’s bank accounts, and tracked the suspicious money movements. They found that the main guy moved over one million eight hundred thousand Bahraini Dinars through personal and company accounts to hide the money’s origin.

With all this evidence, the Public Prosecution is taking them to the High Criminal Court, with the trial set for July 14.

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