Shaikh Talal, was sentenced last December by the lower criminal court to death - a first in the history of the state.
The Appeals Court also confirmed life sentences imposed on three accomplices - an undocumented person, a Bangladeshi and an Indian.
Two others, a Lebanese and an Iraqi, were sentenced to seven years in jail each. They were accused along with Shaikh Talal of money laundering.
The death sentence must be confirmed by the Court of Cassation and then signed by the ruler before the defendant can be executed by hanging.
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