LOS ANGELES
According to officials, the federal government filed seven lawsuits seeking the forfeiture of real estate, a private jet, a yacht, and other assets from former high-level Kuwait officials.
The money was allegedly embezzled and transferred to California bank accounts held by the son of a convicted felon, officials stated.
The court documents filed Thursday indicate that between 2009 and 2016, individuals high-level Ministry of Defense officials at the time and their associates used a London attaché office to open at least six unauthorized bank accounts.
The money was transferred from the National Bank of Kuwait into the unauthorized London accounts. To disguise these transfers’ nature, some of them were falsely described as being intended for military purposes.
According to the complaints, these funds were actually transferred to several California entities that had no business or contractual relationship with the Ministry of Defense.
With the complaints, federal prosecutors seek to recover at least $104,380,000 laundered into and through U.S. financial institutions.
The California entities that received the illicit funds are allegedly connected to a Los Angeles man – Victorino Noval, 58, formerly known as Victor Jesus Noval – who was convicted in 2003 of mail fraud and tax evasion in connection with a multimillion-dollar loan fraud.
he crimes were committed against the U.S. Department of Housing and Urban Development.
Noval was sentenced to 57 months in federal prison and was ordered to pay more than $25 million in restitution.
Officials stated that the California bank accounts, the pilfered funds were used for a parcel of land in Beverly Hills known as “The Mountain.”
Also to buy three homes in Beverly Hills, a penthouse and an apartment in Westwood, a private jet, a yacht, a Lamborghini sports car, and approximately $40,000 worth of memorabilia of boxer Manny Pacquiao, officials stated.