Middle East Economic Survey

VOL. LIV

No 40

3-Oct-2011

SAUDI ARABIA

Judge Lifts $9.2Bn Sanea Global Asset Freeze Order

The worldwide freeze on the $9.2bn assets of Saudi business tycoon Maan al-Sanea has been lifted by a Cayman Islands judge. The freeze went into effect after legal action was brought against him by Ahmad Hamad Algosaibi & Brothers (AHAB), with the prominent Saudi family claiming that it is the victim of a fraud allegedly perpetrated by Mr Sanea. The latter, who is related...