A fugitive banker who has already been sentenced to 15 years in jail for embezzlement, money laundering and fraud in five separate cases has been handed an additional three-year term.

Former Unicorn Bank chief executive Majid Al Refai was yesterday convicted of setting up a fake charity in the US and pocketing BD37,700 ($99,562) from the bank's "donations," said a report in the Gulf Daily News (GDN), our sister publication.

The Kuwaiti, who is still at large, was found guilty of theft and setting up a fake company by the Lower Criminal Court, which also fined him BD1,000. He already has outstanding fines of BD150,000 imposed by the High Criminal Court.

Al Refai left the Islamic bank in August, 2010 and is believed to be overseas. - TradeArabia News Service