A TV producer jailed for embezzling millions of dinars will spend more time behind bars in connection with a new case.
This time, the 65-year-old defendant has been found guilty of money laundering.
The High Criminal Court yesterday jailed him for seven years and fined BD100,000.
He is said to have laundered BD450,000 which he embezzled from investors.
Earlier, he was jailed for three years and fined BD50,000 by the same court in November 2017 for embezzling millions of dinars from investors.
He deposited the money in his bank accounts, paid off bank interests, and bought a Rolls-Royce worth BD135,000, according to court documents.
One of his victims previously described how the defendant pocketed BD1.3m which he had given him to invest.
“The defendant laundered BD400,000,” read the court ruling.
“He wanted to hide the source of the money and bought a Rolls-Royce for BD135,000, which he then sold to another person.
“He also spent BD13,500 to pay off bank interests and placed money in several of his bank accounts.
“He was found guilty of the charges due to sufficient evidence against him.”
A detective previously described how the defendant spent the money he embezzled to hide its sources.
The defendant denied money laundering as he appeared in court.
The GDN previously reported that the defendant had nearly 200 investors since 2003 after tricking them into believing they were investing in British companies.
The victims, from Bahrain and the Gulf, unknowingly deposited the money in his personal bank account.
He pocketed the money and told his victims that the companies they had invested in had gone bankrupt.
He was jailed for three years and he appealed at the Supreme Criminal Appeals Court which, however, upheld the sentence.
The court also ordered the confiscation of the money he had taken from his victims.
noorz@gdn.com.bh
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