$100 million recovered from KOTC officials

$100 million recovered from KOTC officials
KUWAIT CITY : Minister of Commerce and Industry Ahmad Baqer on Sunday told the Criminal Court that Kuwait Oil Tankers Company (KOTC) has recovered more than $100 million from the funds embezzled by four KOTC officials.
The court then adjourned its hearing until May 10, 2009 to allow the defense team for the company and the suspects to prepare their argument.
Baqer added that part of this amount is the interest of the embezzled money. He also confirmed that he sent regular reports to the Cabinet when the case was heard by the United Kingdom legal authorities.
Baqer further said he cooperated with the Public Prosecution to restore the embezzled money and arrest the second suspect, Hassan Qabazard. The witness has also corresponded with the Swiss judiciary regarding the case. “However, I don’t remember the details of this issue,” he said, adding it can be obtained from KOTC Chairman Abdullah Al-Roumi.
Baqer pointed out he did not know the exact amount paid by Qabazard, but the information he obtained is relevant to the funds restored from the Swiss judiciary according to the British verdict.
Following the session, the lawyer for the main suspect, Attorney Labeed Abdal, told the Arab Times, the KOTC has violated the law as it had repeated claims against the suspects without legal reasons.
“This is evident in the contradiction of the testimonies of the two witnesses — Baqer and Bader Al-Kandari,” said Abdal.
He added this contradiction proves the charges against his client are not true.
During a previous session, former KOTC official, Bader Al-Kandari, said the total amount of money embezzled in this case is $100,475,000.000 and $85,532,000.000 have been paid back.
The session was presided over by Judge Abdullah Al-Sane.

By Moamen Al-Masri
Special to the Arab Times

http://www.arabtimesonline.com/kuwaitnews/pagesdetails.asp?nid=29947&ccid=22