Kuwait looks into alleged money-laundering

Oct. 12, 2011 at 2:53 PM
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KUWAIT CITY, Oct. 12 (UPI) -- Kuwait officials are investigating an alleged $300 million money-laundering scheme involving two lawmakers, a former minister and a businessman, a report says.

Kuwaiti daily newspaper Al Rai reported the public prosecution is looking into how and why the suspects had received the money in their bank accounts from abroad, Gulf News said.

The suspects were not identified.

Al Rai cited unidentified sources who said the suspects had received the money in several installments, reportedly from Iran and Russia, and it was subsequently transferred to the suspects' accounts.

The newspaper said the public prosecution has contacted Kuwait's central bank to identify the sources of the money and whether it had been deposited legally in the suspects' accounts.

The International Monetary Fund said this month 210 cases of money-laundering in Kuwait had been reported to the public prosecution.

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