Kuwaiti Court Dismisses Guilty Verdict In Port Fraud Case, Then Raises Defendents’ Bail To $168M

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Kuwaiti Court Dismisses Guilty Verdict In Port Fraud Case, Then Raises Defendents’ Bail To $168M

By Dominic Dudley
Contributor
Forbes

May 10, 2019 – A Kuwaiti court has set additional bail demands of $132m for two business executives charged with embezzling funds from a state-owned entity, despite the case against them appearing to have all but collapsed amid claims of forged documents and countervailing judgements by other local courts.

The ruling by Judge Anwar Al-Anizi in the Court of Appeal on May 5 comes on top of an existing bail payment of KD11m ($36m) that Russian national Marsha Lazareva and local businessman Saeed Dashti had already paid.

The demand for an additional KD20m ($66m) from each of them before they could be released came despite the judge voiding the ruling of a lower court. It is not clear what the reason is for the higher bail demand, which drew a critical response from their legal team.

Read the full story in Forbes.