KUWAIT CITY: A Kuwaiti court has sentenced five people — including a Kuwaiti woman, three Egyptian partners, and a Bedoun broker — to five years of hard labor imprisonment in connection with a massive real estate fraud and money laundering case involving fake beach chalets in Kuwait and Egypt.
The court also imposed a joint fine of approximately KD 5.3 million on the convicted individuals.
According to investigations, the accused deceived victims by promoting and selling non-existent luxury beach chalets using fake advertisements and forged documents, collecting huge sums of money from multiple customers. Authorities said the illegally obtained funds were later laundered through suspicious financial transactions.
Officials described the case as one of the largest recent real estate fraud cases uncovered in Kuwait.
Meanwhile, the court acquitted a Kuwaiti man and woman listed as nominal partners under the company owner’s name, along with three other real estate brokers, citing insufficient evidence.
Security investigations revealed that the accused had established an extensive network to legalize and move the fraudulently obtained funds. Authorities confirmed that strict monitoring of suspicious real estate companies will continue in the coming period.
