MUSCAT: In a case of embezzlement, forgery, and money laundering linked to the theft of money reported by Oman Arab bank in December 2020, eight people, including a woman, received prison sentences ranging from 1 to 10 years as well as hefty fines.

Oman Arab Bank stated in a document submitted to the capital market authority on December 22, 2020, that it had reported a suspected instance of forgery and embezzlement involving money totalling about OMR 6 million to the Royal Oman Police.

The public prosecution declared on Friday that it had succeeded in getting 8 of the individuals who had been accused of the crime convicted. It comes after the Muscat Court of Appeal’s ruling.

In addition to the three years in prison and OMR 300,000 fine for stealing and an additional two years for forgery, Shabib bin Mohammed bin Saleh was sentenced to ten years in prison for money laundering.

Additionally, Amar bin Abdullah bin Shabab was given a 10-year prison sentence as well as an OMR 50,000 fine. After being found guilty of money laundering, Ahmed bin Darwish bin Mubarak and Rashida bint Hashel bin Salem were sentenced to three years in prison and a fine of OMR 50,000. Forgery resulted in a one-year extension of the original sentence.

In addition to a one-year sentence for forgery, Dr Essam bin Mohammed bin Khalfan received a three-year prison sentence for money laundering and a fine of OMR 50,000.

The court also mandated the return of the stolen money and any goods acquired with the embezzled cash. The latter consists of jewellery, cars, possessions, and real estate.

OAB filed a lawsuit accusing the defendants of diverting bank assets into their personal accounts, as well as the accounts of their businesses and other collaborators. They purchased homes and vehicles, paid off personal loans, and concealed some of the stolen money using illegal finances.