The Financial Intelligence National Centre arrested a foreigner for raising money for unlicensed investments. He carried out money laundering through financial transactions to add legitimacy to the money and conceal its real sources.
The centre’s investigations revealed that the suspect finalised fictitious investment contracts, through which he was able to receive an amount exceeding BD3 million from his victims by misleading them into getting 20% monthly profits.
The centre noted that legal proceedings are being taken to refer the case to the Public Prosecution.
