Bahrain Convicts 3 Of Financing 'Terrorist' Fugitives In Iran, Money Laundering

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A court in Bahrain has convicted three of financing and supporting "terrorists" who are fugitives in Iran, practicing unlicensed banking services, and money laundering, sending them to varying jail terms and confiscating over 21 million Bahraini dinars.

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The country's First High Criminal Court sentenced the first defendant to life in jail and fined him 100,000 Bahraini dinars, in addition to confiscating the proceeds of his crimes, amounting to 21,635,316 Bahraini dinars. As part of the same case, he was sentenced to jail for seven years and fined 100,000 Bahraini dinars for money laundering. Authorities also ordered the confiscation of the proceeds of that crime as well, amounting to 408,278 Bahraini dinars.

The other two defendants in the case were sent to jail for three years each. The funds that were used by them to commit the crimes were confiscated. They were convicted of participating with the first defendant in carrying out banking business in violation of the law in Bahrain.

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Sentences in the case were pronounced on Tuesday, November 3, following a report received by Bahrain's Financial Crimes and Money Laundering Prosecution, regarding a network that was engaged in unlicensed financial activities between Bahrain and Iran.

Money laundering network

Bahrain's public prosecution explained what role each defendant played in the criminal network. The first defendant was the main culprit. He collected and received money from members of the public in Bahrain in order to transfer it to Iran for various purposes, using cryptocurrencies to carry out these operations.

At first, he received the funds through his bank accounts, then transferred it to the bank accounts of the other defendants who then supplied him with the required cryptocurrencies. They transferred these digital assets to the first defendant's wallets via Iranian platforms.

The first defendant would sell the cryptocurrencies and transfer their value to his bank accounts in Iran, in preparation for transferring it to the individuals and entities requesting the funds, in return for financial profits that he accumulated.

Collecting millions of dinars from people

Upon receiving the report, investigations showed that over five years, the first defendant received 21,635,316 Bahraini dinars from more than 10,000 individuals and entities, and carried out the banking operations on those funds without a licence. The other two defendants' role was also proven.

It was also revealed that 2,758,500 Bahraini dinars of the total funds that the first defendant received were allocated to support a number of "terrorists" who are fugitives in Iran. The defendents, the court established, were aware of these individuals' criminal activity and of the fact that they were wanted to serve criminal sentences.

After searching the defendants' homes and examining data on their electronic devices, an interrogation was carried out and they were confronted with the evidence. The three of them confessed to all charges.

The prosecution ordered the freezing of the defendants' accounts, the tracing of their financial transactions and operations.

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