The High Criminal Court of the Kingdom of Bahrain issued a ruling on a money laundering case against 
Majid Al-Refai was convicted of money laundering and fraud and was sentenced to 5-year imprisonment and fine of BD100, 000.
Al-Refai was found guilty of money laundering according to the applicable laws in the Kingdom of Bahrain. The High Criminal Court issued the ruling in absentia as Al-Refai failed to attend any of the court hearings in relation to this case to date.
This is the fourth criminal ruling issued against Al-Refai, who has been sentenced to an aggregate number of 15 years in prison for the crimes he committed during his tenure as Chief Executive Officer of Unicorn Investment Bank.
On the 26th of September 2012, the High Criminal Court of Bahrain found Majid Al-Refai guilty of money laundering, fraud, and illegally soliciting donations without prior licensing from Bahraini authorities, and was sentenced to 5 years imprisonment and fined BD40, 000. On the 26th of July 2012, the Criminal Court of Bahrain convicted Majid Al-Refai of embezzlement, misappropriation of Bank funds, obstructing shareholders from accessing Bank records, and destroying over 8000 official Bank documents, and sentenced him to 4 years in prison. Al-Refai was also sentenced to one year imprisonment for embezzling official Bank documents.
It is also worth noting the International Police Organization (Interpol) has a warrant out for Al-Refai’s arrest.