Shafaq News/ A Kuwaiti criminal court has sentenced two Iraqis and three Egyptians to three years in prison for their involvement in a case of illicit financial transfers targeting the Egyptian expatriate community in Kuwait.
The court acquitted all other defendants accused of laundering 55 million Kuwaiti dinars (approximately $179 million) and ordered the confiscation of all seized funds.
According to Al-Qabas newspaper, the case began when Kuwaiti authorities arrested an Egyptian national in possession of 50,000 Kuwaiti dinars (around $163,000) in cash. The investigation led to the discovery of a network comprising Iraqis and Egyptians operating illegal money transfer activities.
Investigations by the Kuwaiti Public Prosecution revealed that the network specifically targeted members of Kuwait’s Egyptian community — one of the largest expatriate groups in the country, numbering around 600,000 people. The network collected funds in cash and transferred them to Egypt and other countries through unofficial channels, bypassing licensed banks and money exchange companies.
The investigation also found that the network operated a parallel financial system based on unregistered transfers, known as "hawala," allowing the movement of large sums of money beyond the oversight of Kuwait’s Central Bank.
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