Investor flees Saudi with Dh160 mn

He shut his firm and left

By staff

An expatriate investor shut down his troubled company and fled with nearly SR160 million (Dh160 million) collected from more than 100 people.
Sada newspaper said the investor’s aide appeared in U-Tube film telling the victims that his manager has fled outside the Gulf Kingdom and that they should go to the police.
“He owed all that money to his clients…he suddenly shut his company and fled Saudi Arabia without paying any of them…he owed nearly SR160 million to his clients,” the paper said in a report from the Northeastern town of Hafr Al Batin.

Dubai Gazette