Two persons were referred by the Public Prosecution to the criminal court for accepting deposits without obtaining an authorized license to do so. They embezzled 3 million riyals and 50 thousand riyals from the victim, according to a report on AlSharq newspaper.

The criminal court ruled that the two persons be sentenced to one year in prison and each is fined an amount of 10 thousand riyals. The court is also obligating them to return the 3 million and 50 thousand riyals to the victim. The civil case will also be referred to the competent civil court.

According to the report, one of the accused practiced the business of accepting financial deposits from individuals through a company the person owned without a license and investing them in the hope of obtaining a quick gain in an illegal way. The other defendant received the amount in installments and promised the victim a monthly profit of 13,000 riyals, and then they refused to hand over the principal amount to the detriment of the victim.

Attorney Hind Ibrahim Al-Saffar, the legal representative of the victim, presented a legal memorandum with evidence and evidence confirming the victim's right to recover the amount paid to the defendants for the sake of investment.

Attorney Hind Al-Saffar demanded that the defendants return the amount in question and compensate the victim for one million riyals for the damage caused.

Article 77 of Law No. 13 of 2012 promulgating the Qatar Central Bank Law stipulates that it is prohibited to provide any of the financial services or to carry out the activities and businesses stipulated in the law before obtaining a license to do so. Article 203 punishes violators with imprisonment for a period not exceeding 5 years and a fine not exceeding 5 million riyals. Anyone who practices the business of accepting deposits without a license, and anyone who practices financial services shall be punished with imprisonment for a period not exceeding 3 years and a fine not exceeding 5 million riyals or one of these two penalties.

It is legally established that the crime of breach of trust is achieved by tampering with the ownership of the thing delivered to the perpetrator under a contract of trust.

As for the victim's request for a civil right to confront the accused, the court shall refer the victim to the competent civil court, pursuant to Article 23 of the Criminal Procedure Law.

Source: AlSharq Newspaper

Cover image: Shutterstock

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ILQ Staff

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