Father-son duo acquitted in BD100,000 money laundering case

TDT | Manama                                                    

The Daily Tribune – www.newsofbahrain.com

A Bahraini businessman and his son have had money laundering charges against them revoked by the Cassation Court. The charges alleged that they had laundered BD100,000, but the defendants argued that it was a loan they had received from the plaintiff and that they had partially paid it back.

The court concluded that the defendant had not attempted to conceal the source of the money, and thus the charges could not be upheld. This ruling is in line with previous decisions made by the High Criminal Court and the High Appeals Court.

The case files reveal that the man had received BD100,000 from a fellow countryman for investment through his companies and had agreed to a 10% profit. However, the plaintiff claimed that the defendants had failed to keep their promises and had started to avoid him, prompting him to file a complaint.

Authorities then investigated the matter and found that the suspect had transferred ownership of his companies to his son in an attempt to evade legal action. Investigators also alleged that the suspect had emptied his accounts to conceal the source of the money.

During the trial, the defendant, however, admitted to receiving the money from the plaintiff as a loan and provided evidence that he had partially repaid the amount. The Cassation Court accepted this evidence and concluded that the money laundering charges could not be upheld as the defendant had not hidden the source of the money he had received. Consequently, he was acquitted of money laundering.