The US Securities and Exchange Commission (SEC) last week charged al-Braikan with scheming to make millions through fake offers to acquire American companies.
The SEC said it was freezing more than $5m in trading profits in his name and three companies he was associated with.
Al-Raya Investment, which is 10 per cent owned by the New York-based banking giant Citigroup, on Saturday denied that it had committed any violations in the US.
“The board of directors of Al-Raya Investment Company has reviewed all pending issues related to the civil lawsuit against it, its chief executive and other companies by the SEC,” Al-Raya said in a statement.
“The board … confirms the correctness of these dealings made by the CEO on behalf of the company.”
In a separate statement, Al-Braikan said that he had named a US lawyer to defend him in the case.