Kuwait is taking strong legal action against an illegal gambling network. They are accusing them of laundering millions with shell companies and alternative payment methods.
According to Gulf News, via Arabic outlet Al Qabas, 3 people were sentenced to 7 years in prison for participating in the operation. They have been fined KD16.839 million or around €47 million. The 5 shell companies have been fined KD8.419 million.
Court documents show how one of those people was the network’s primary agent who controlled gambling processes and financial channels to conceal the source of funds. The laundering is exceeding KD8.419 million.
Authorities note how this operation was unveiled by Kuwait’s criminal investigation and state security services.
The case is a part of the regional crackdown on illegal gambling across Gulf Cooperation Council (GCC) countries: Bahrain, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
The UAE has begun introducing regulated gambling frameworks, as gambling is still illegal in most GCC states. Authorities are targeting online operators who do not have licenses.
The ruling is going to work with Wynn Resorts’ Wynn Al Marjan Island project in Ras Al Khaimah that is facing logistical and shipping challenges.