Saudi Arabia Minister convicted by a Dubai Court
Shares
A court in Dubai has convicted a Saudi minister and four of his brothers of fraud in a case filed by Palestinian-Canadian businessman Omar Ayesh, the Al Jazeera news network reported Monday.
Ahmed Al-Rajhi, the current Saudi labor minister, and his brothers were accused of seizing the properties and assets of Tameer Holding Investment, including the shares of its founder, Ayesh.
According to Al-Jazeera, the verdict was issued on Nov. 25 and the court ordered the Saudi minister and his brothers to pay compensation to the Palestinian businessman of around 1.7 billion UAE dirhams ($462.8 million) in addition to 9% interest annually on the amount of the fine starting from March 12, 2017 until the completion of payment.
There was no official statement from the UAE side or Al-Rajhi.
