Financial Crime World

Title: Kuwaiti Police Arrest Two Alleged Fraudsters Running Phantom Film Production Company

Phantom Film Production Company: A Front for Financial Swindles

Cairo, Egypt: In a recent series of crackdowns on financial fraud cases, Kuwaiti authorities announced the arrest of two suspects accused of running a phantom film production company as a front to swindle people out of large sums of money.

Suspects Apprehended After Nine-Year Evasion

The first suspect, an expatriate believed to be from India, was apprehended by Kuwaiti police this week. He was wanted in more than 30 separate fraud cases and had evaded authorities for approximately nine years, illegally residing in the country. The second suspect, also an expatriate, was arrested alongside the first suspect and wanted in 38 legal cases for fraud, theft, and breach of trust, totaling KD1 million ($3.3 million).

Strict Warning to Public Against Financial Scams

In a statement, the Interior Ministry issued a strict warning to the public against falling prey to fraud and swindle scams, with requests for personal data and banking information.

Details

  • The suspects’ arrests come after intense investigation into their suspected involvement in financial fraud.
  • Both suspects have been living illegally in Kuwait, with the first suspect’s nationality and exact age undisclosed.
  • Sources close to the case confirmed both men had been evaders.

Kuwait’s Crackdown on Illegal Residents

Kuwait has intensified measures against illegal residents, pledging to penalize anyone assisting or covering up such violations. The evaders will face immediate deportation and potential legal consequences.

Details

  • The suspects’ arrests follow Kuwait’s ongoing efforts to combat fraud cases and protect the public.
  • Kuwait has a zero-tolerance policy for illegal residents and financial fraudsters.

The second suspect, who has also faced sixteen issued jail sentences, was arrested alongside the first suspect. The total amount swindled in his previous cases amounted to KD1 million ($3.3 million).