On January 17, 2024, Ali Sharif Al Emadi, a 55-year-old former Qatari Minister of Finance, was sentenced to 20 years in prison by a criminal court in Qatar for laundering over US$5.6 billion. Emadi faced convictions on charges including bribery, abuse of position and power, damage to public funds, and money laundering.

To know more: https://www.fcctimes.com/2024/01/18/qatars-ex-finance-minister-al-emadi-gets-20-year-sentence-for-5-6b-money-laundering/?utm_source=LinkedInText&utm_medium=FCCPoI_Jan24

In addition to the prison sentence, Emadi was fined 61 billion Qatari riyals (US$16.7 billion), comprising 40.9 billion riyals (twice the laundered amount) and over 21 billion riyals in additional fines.

Emadi’s legal troubles began in May 2021 when he was arrested and subsequently dismissed from his roles as the finance minister and board chairman of Qatar National Bank. In March 2023, he faced charges leading to a trial, culminating in the 20-year jail sentence in January 2024.

In the same case, Sheikh Nawaf bin Jassim bin Jabor Al Thani, a prominent member of Qatar’s ruling family and brother of the former prime minister, was found guilty of misusing public funds. He received a six-year prison sentence and a fine of 825 million riyals (US$226 million). Additionally, 14 others are currently facing trial for similar charges.