Manama, October 31 (BNA) His Excellency Counselor Wael Bualai, General Legal Counsel and Deputy Prosecutor, stated that today the Supreme Court of Appeal upheld the ruling of the Court of First Instance, in which it supported the Central Bank of Iran (CBI). A number of Iranian banks, Future Bank (FB) and six of its officials were convicted.
The convicted FB officials were sentenced to 10 years in prison, with the exception of the sixth defendant, who was sentenced to 5 years in prison. And a fine of one million Bahraini dinars against all the convicts, the Central Bank of Iraq and other banks involved. In addition, the judgment included the confiscation of remittance amounts estimated in the amount of 148,071,818 dollars (one hundred and forty-eight million and seventy-one thousand eight hundred and eighteen), 967,937,627 euros (nine hundred and sixty-seven million nine hundred thirty-seven thousand six hundred and twenty-seven euros). ), 53,350,000 dirhams (fifty-three million, three hundred and fifty thousand) and 235,093,250,000 (two hundred and thirty-five billion, ninety three million, two hundred and fifty thousand).
The court rejected the appeal submitted by the sixth convict after reviewing the pleadings and pleadings of the two parties, as the Public Prosecution appealed the appeal and demanded heavier fines and penalties for the original offense on the convicts in accordance with the provisions of the law. Accordingly, the court upheld the ruling.
The Public Prosecution had announced earlier that its investigations revealed a huge scheme to launder billions of dollars through FB, which was established in the Kingdom of Bahrain and managed by two Iranian banks owned by the Islamic Republic of Iran, namely the National Bank of Iran. and Bank Melli Iran (BMI) and Bank Saderat Iran (BSI), in order to pass suspicious financial transactions for the benefit of the mentioned entities, in violation of laws and regulations.
Extensive investigations conducted by the Public Prosecution revealed banking practices that were carried out in violation of the provisions of the law. It also revealed that the Central Bank of Iraq issued instructions to the Federal Bureau of Investigation regarding the use of an alternative, unapproved transfer system to complete banking operations, for the purpose of concealing the source and movement of funds transferred through it and for the benefit of Iranian banks, as well as circumventing international sanctions imposed on Iranian entities in banking transactions for anti-money laundering necessities. and terrorist financing. It benefited from the operational control of BMI and BSI over FB and directed its policies as well as its subordination at the time to the Iranian government and the CBI. In implementation of these instructions, FBI officials, in conjunction with other officials of Iranian banks and the Central Bank of Iraq, have sent, transferred, and received more than one billion three hundred million US dollars using the aforementioned alternative system, as part of the huge funds. – Laundry scheme.
His Excellency added that investigations are still ongoing regarding the rest of the facts, which include international transactions carried out by Iranian banks and banks for the same purposes in violation of the Law on Prohibition and Combating Money Laundering and Terrorist Financing, and banking laws and regulations. It is expected that more people involved in the scheme will be revealed in preparation for these cases to be referred to criminal trial.
NS