Kuwaiti 'fraud suspect' found dead

Security officials reportedly find body of businessman facing court case in US.

    The SEC had filed a case against al-Braikan in the
    US over an alleged fraud [GALLO/GETTY] 

    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.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    The Coming War on China

    The Coming War on China

    Journalist John Pilger on how the world's greatest military power, the US, may well be on the road to war with China.