Some co-ops boards to face prosecution for corrupt acts

14 سبتمبر, 2014 09:24 م

56 0

KUWAIT CITY, Sept 14: The Ministry of Social Affairs and Labor plan to refer the board directors of some of the cooperative societies to the Public Prosecution for squandering public money, reports Al- Qabas daily. According to reliable sources the suspects have violated the cooperative societies’ law particularly the laws pertaining to buying fruits and vegetables from accredited places.

The same source said many of them face punishment and that even the boards of these societies may be dissolved as per decision No 118 of 2013. The sources say some members of the board of directors have signed exclusive contracts with what the sources called ‘beneficiary’ companies to get benefits from them.

Meanwhile, the Ministry of Commerce and Industry this week is expected to send official warnings to more than 270 joint stock companies asking them to comply with the companies law especially the law concerning financial statements and holding general assembly meetings during legal periods, reports Al- Qabas daily. The daily added, the warnings will be issued through the Ministry of Justice and based on this evidence the complainant will then sue the erring companies.


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