Al Jazeera (Qatar) / AFP : "Saudi fraud dispute reaches court"

Saudi fraud dispute reaches court

The Saudi case is the biggest to erupt publicly in the Gulf in the wake of the global financial crisis [AFP]

Saudi Arabia has been rocked by a case charging one of the country's wealthiest businessmen, Maan al-Sanea, with stealing $10bn from his wife's family over four years.

The prominent Algosaibi business group had filed a case in a US court accusing al-Sanea of using a workers' remittance unit to hide the skimming of huge sums from unauthorised foreign-exchange deals with banks.

The case, filed last week in New York State Supreme Court by Ahmad Hamad Algosaibi and Bros (AHAB), is part of running dispute and responds to an earlier complaint filed against ........
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http://english.aljazeera.net/news/middleeast/2009/07/200972060.....