The Kuwait Capital Markets Authority submitted a report to the Attorney General concerning alleged crimes and violations linked to a listed company suspended from trading, related parties, and others, tied to conduct affecting trading in the company’s shares. The referral cites alleged offences under Kuwait’s capital markets framework (including Articles 118 and 120 and specified items in Articles 126 and 127 of Law No. 7 of 2010, as amended), the Companies Law (specified clauses in Articles 303 and 304 of Law No. 1 of 2016), and provisions of the Penal Code (Articles 235, 236, 257 and 259 of Law No. 16 of 1960). The conduct described includes deceiving shareholders and dealers, submitting forged documents to the Authority, and publishing misleading and untrue financial statements that did not fairly reflect the company’s actual performance and financial position, directly impacting the share price on Boursa Kuwait and enabling illegal personal gains.
Kuwait Capital Markets Authority 2025-12-01
Kuwait Capital Markets Authority refers alleged market deception and false financial reporting at a suspended listed company to the Attorney General
The Kuwait Capital Markets Authority has referred a case to the Attorney General involving alleged crimes by a suspended listed company and related parties, impacting trading in the company's shares. The allegations include violations of Kuwait’s capital markets framework, Companies Law, and Penal Code, involving deceit of shareholders, submission of forged documents, and misleading financial statements affecting share prices on Boursa Kuwait.