Thursday, March 31, 2011

Al Gosaibis sue former TIBC chief for billions - The National

Al Gosaibis sue former TIBC chief for billions - The National

Abu Dhabi's The National reports that the Algosaibis have launched a fresh legal claim of at least US$9 billion, though this time the claim is against Mr. Glenn Stewart, the former chief executive of their own, now bankrupt, company, The International Banking Corporation. The newspaper states that the Gosaibis lawsuit alleges "aiding and abetting fraud, breach of fiduciary duty, fraud, conspiracy to commit fraud, and unjust enrichment."

Mr Stewart, who left Bahrain last year for his native California, said in an e-mail to The National he had not yet seen the complaint and would respond in detail once he had had time to study the claims. He denied all the allegations.

No comments:

Post a Comment