Bank employee charged with embezzlement and money laundering

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

Email: mail@newsobahrain.com

A 39-year-old customer service coordinator has been charged with embezzlement and money laundering after allegedly stealing over BD35,000 from client accounts.

The defendant, a Bahraini national, is accused of using his position at a local bank between March 2023 and April 2024 to facilitate the crimes.

According to a police investigation, the defendant allegedly transferred BD35,283 from the accounts of a prominent company and another client to the accounts of his wife and cousin.

The funds were subsequently returned to the defendant’s accounts in tranches, with the defendant then using the money for various purchases, payments, and transfers totaling BD15,093.519.

Transactions Further transactions included bank transfers of BD9,199.635, cash withdrawals of BD240, and payments of BD761.500.

The prosecution alleges that these transactions were designed to conceal the origin of the funds and make them appear legitimate, constituting money laundering.

The defendant is also accused of using a branch supervisor’s electronic signature and internal transfer codes without their knowledge or consent to carry out the fraudulent transactions.

Transfers The investigation revealed 10 transfers to the defendant’s wife from a client’s account, followed by the return of the funds to the defendant’s account.

Similar transactions were identified involving the defendant’s cousin and the company’s account. The defendant’s cousin reportedly stated that the defendant had instructed him to receive and return the money, claiming ownership.

The defendant’s wife reportedly stated she was unaware of the funds’ origin, believing them to be bonuses related to a new bank system.

Investigation

A police officer testified that the investigation included analysis of bank accounts, text message exchanges, and interviews with the defendant, his wife, and cousin.

The defendant reportedly confessed to embezzling the funds and transferring them to his wife and cousin’s accounts without their knowledge of the true source. Most of the money transferred to his wife’s account was subsequently returned to the defendant, according to the testimony.

The defendant has been arrested and charged. The case will be heard on October 15th.