LAWYERS of two men at the centre of a multi-million-dinar fraud were yesterday given two months to review a new verdict which effectively axed part of Bahrain's law on money laundering.

The two Bahraini defendants, each former Alba employees, are facing charges of money laundering, fraud and bribery.

Prosecutors claim the men accepted bribes from foreign firms in exchange for selling Alba's aluminium at cut-rate prices - pocketing more than $17 million (BD6.4m) in the process. The two men allegedly laundered the money through companies set up as fronts for the racket, before depositing cash in Swiss and British bank accounts between 1999 and 2004.

Ruling

They pleaded not guilty at the first hearing held in March. It is understood a third man linked to the case is still at large.

The three-member defence yesterday asked the High Criminal Court to adjourn the case after prosecutors presented a copy of a ruling by the Constitutional Court, following a petition filed by another lawyer in a separate case.

The court declared unconstitutional an article which allowed authorities to freeze and confiscate assets of the families of suspects or those convicted of money laundering and/or financing terrorism.

Lawyers for the defendants in the Alba case asked for time yesterday to review their own defence case, following the ruling.

Judges adjourned the case to February 7.