RAMALLAH, June 7, 2012 (WAFA) – Palestinian Corruption Crimes court in Ramallah Thursday sentenced in absentia former director general of the Palestine Investment Fund Mohammad Rashid to 15 years in jail with hard labor and a $15 million fine.
Rashid, also known as Khaled Salam, was convicted of embezzlement and money laundering along with Abdul Rahman al-Rashid Najab and Khalid Abdul Ghani Farra.
Najab and Farra were sentenced to 15 years in prison and a fine of $8 million and $5 million, respectively, for accessory in embezzlement and money laundering.
The court also convicted the Management Consulting Services Company (MCS) for accessory in embezzlement and money laundering, and was fined $5 million in addition to the company’s dissolution.
M.H./F.R.
