Bahrain top court upholds money laundering conviction against Central Bank of Iran

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Bahrain’s top court has upheld the verdict issued in what was described as the largest money laundering case in the history of the Kingdom, convicting the Future Bank and six of its officials, the Central Bank of Iran and other Iranian banks, local media reported.

Attorney General Wael Bualai said on Sunday that the Supreme Court of Appeal upheld the ruling issued by the Court of First Instance convicting the Central Bank of Iran in conjunction with a number of Iranian banks, the Future Bank and six of its officials.

The ruling includes “punishing Future Bank officials with a 10-year prison sentence for all the convicts except for the sixth defendant, who was sentenced to five years in prison.”

In addition, a fine of one million Bahraini dinars was slapped on each of the convicts, as well as the Central Bank of Iran and other banks involved.

The court also upheld confiscating remittances estimated at $184 million, 967 million euros and 53 million dirhams, and 235 billion Iranian riyals.

Source » gulfnews

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