Call to refer firm to Public Prosecution

Parliament’s panel cites irregularities

KUWAIT CITY, June 28: Parliament’s Public Funds Protection Committee has recommended referring the KGL Investment Company and its subsidiaries and associates to the Public Prosecution for the irregularities, which affected the public funds and state property of Kuwait Port Authority, so that the committee’s information and discussions would be made available during investigations over the contents of its report by the prosecution, reports Al-Rai daily.

The report highlighted the existence of tampering in the accounts and records of the authority when proving the disbursements of the amounts, indicating there was manipulation in the preparation of journal entries whereby some had duplicate numbers.

It also indicated that some employees of the authority destroyed documents related to purchase orders and disbursements of funds.

The recommendations of the committee was considered important after a study of the report released by the State Audit Bureau on the funds

invested in the financial periods that ended on June 30, 2013, December 31, 2013 and June 30, 2014 of Kuwait Ports Authority.

The State Audit Bureau had prepared a detailed report at the request of the committee, showing all the irregularities and infringements that occurred on public funds and state properties belonging to the authority by KGL Investment and its subsidiaries and associates.