Four foreigners face trial for BD3.3 million financial scam

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

The Public Prosecution has ordered the referral of four foreign nationals to the High Criminal Court for charges related to financial crimes, including illegal investment solicitation, forgery, and money laundering. The trial is scheduled for July 14th. The charges were announced by the Head of the Financial Crimes and Money Laundering Prosecution.

The investigation, initiated by the National Centre for Financial Investigations, revealed that one of the defendants, a known international criminal, had entered Bahrain under a false name and established a company specialising in trading collectibles and souvenirs.

The defendant allegedly collected and received funds from the public for investment in this business without obtaining the necessary license, violating Bahraini law.. Moreover, he is accused of collaborating with the other defendants in setting up the company, forging data on a private company’s IT system, and manipulating and using private documents.

Investigation

The Financial Crimes and Money Laundering Prosecution conducted an investigation that uncovered the main defendant’s collection of over BD3.3 million from the public for investment in collectibles and souvenirs. He is also accused of issuing bounced checks.

The investigation also identified the roles of the other defendants in the forgery crimes, which were allegedly committed to facilitate the seizure of funds from the public and escape justice. The Public Prosecution reviewed documents and records related to the alleged crimes and ordered the disclosure of bank account information for the defendants and the company.