Progress in Algosaibi Settlement - Seite 3

In discussing the cases against Al Sanea, Simon Charlton said: "AHAB is confident of making recoveries through these civil and criminal claims such that the return to Claimants through a consensual settlement will be significantly greater than those that would otherwise be available."

AHAB is also pursuing organizations that aided or were instrumental in Maan Al Sanea's ability to perpetrate his global fraud, including The International Banking Corporation ("TIBC").  The Company recently sued TIBC in Saudi Arabia for USD 1.2 billion for facilitating numerous fraudulent transactions, using false documentation created by TIBC's management, which caused severe damage to AHAB and a large number of financial institutions. 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/progress-in-algosaibi-settlement-300272305.html