Middle East Economic Survey
VOL. LII
No 30
27-Jul-2009
SAUDI ARABIA
Further Developments In the Saad, Algosaibi Saga
There have been further developments in the saga facing troubled Saudi conglomerates Saad Group and Ahmad Hamad Algosaibi & Brothers (AHAB). A lawsuit has been filed by AHAB in New York accusing billionaire Maan al-Sanea, Chairman of the Saad Group, of fraud and misappropriation of $10bn. AHAB had announced in June that it had uncovered strong evidence of substantial financial...
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