BREAKING: Jordanian King’s uncle fined millions, sentenced to hard labor
Jordan King Abdullah's uncle by marriage, Walid Al-Kurdi, was sentenced to 37 years of labour following charges of corruption on Wednesday.
The Jordanian court said Al-Kurdi illegally profited by using his position as CEO of Jordan Phosphate Mines Company (JPMC). He was charged with exploiting office and breaching economic criminal laws, according to the Jordan News Agency, Petra. Soon after he was charged, the courts froze Kurdi’s movable and immovable assets.
The courts also found Al-Kurdi guilty of three counts of shipping fraud.
Al-Kurdi has been fined approximately JD284 million ($400 million).
Al-Kurdi, who is married to the King’s aunt, was indicted on New Year’s Eve of last year.
JPMC was founded in 1949 and is based in Amman. It has three mining facilities and is listed on the Amman Stock Exchange (JOPH).
The company’s 52-week-range has a high of about 14JD to its current low of about 9.80JD. The company was originally government owned and was later privatized.
Al-Kurdi is believed to have fled Jordan for Britain shortly after being charged last year.
Judges Saeed Al-Louzy and Naser Al-Halalmeh oversaw the trial.