KD 200,000 Investment Scam: Kuwait Police Arrest Suspect and Search for Second

Kuwait’s Criminal Investigation Department has arrested a Bedoun suspect over an alleged investment scam involving nearly KD 200,000 and about 15 victims, most of them Kuwaiti citizens. Authorities also issued an arrest warrant for a Kuwaiti citizen believed to be involved.

The suspects allegedly attracted investors with promises of 20% monthly returns from global stock markets and financial instruments. They also told investors that their principal could be withdrawn after two years under certain conditions. Victims initially received regular payments, but those payments later fell sharply.

When investors demanded their money back, they were reportedly told that the company faced financial difficulties and that their funds remained tied up in investments. Complaints filed at Sharq Police Station led the Public Prosecution to register a fraud case and order the suspects’ arrests.

A security team detained the Bedoun suspect. The Kuwaiti suspect reportedly switched off his phone and left his residence for an unknown location. Investigations continue as authorities seek to locate him and take legal action. Police urged investors to check the official licenses and legitimacy of investment companies, warning against offers of unusually high or guaranteed returns.