Three executives found guilty for the part they played in a major embezzlement case have had their jail sentences suspended pending a ruling from an appeals hearing, writes Zainab Almahdi.
The men, who worked for an investment platform, were released on bail by the Supreme Criminal Appeals Court yesterday having earlier received one-year jail sentences each.
The company’s owner, who was sentenced to eight years in prison, was not released. He was ordered to pay fines and restitution totalling nearly BD14 million.
In December, the well-known businessman was found guilty by the High Criminal Court of forgery, money laundering and defrauding people who put funds into his investment platform.
His three accomplices – the company’s chief executive and two board members – were each sentenced to a year in prison along with a fine of BD5,000.
The Public Prosecution has also lodged an appeal against the original verdict, asking judges to make the three defendants pay BD320,000 in restitution to the victims, equal to the amount they helped launder, it states.
Three attorneys, representing the 352 victims, added in court that they will pursue civil litigation against all of those involved too.
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