Ahmad Hamad Algosaibi & Brothers outline comprehensive settlement proposal
AHAB outlines a comprehensive settlement proposal to a group of banks and financial institutions with claims against the company. These asserted by banks, total billions of dollars, arise out of liabilities incurred through a massive fraud perpetrated by Maan Al Sanea in his time a head of the Money Exchange division of AHAB. The liabilities have so far spawned more than 70 lawsuits in at least 10 countries over the past five years.
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