The Court of First Instance in Dubai has found the Saudi Minister of Labour, Ahmed Al-Rajhi, guilty of fraud issuing him a $450 million fine in the case filed against him by the Palestinian-Canadian businessman Omar Ayesh. The court also charged Al-Rajhi with nine per cent annual interest on the fine, starting from 12 March 2017 until the completion of the payment. The court ordered the Saudi official to pay Ayesh, who holds a 25 per cent share in Tameer Holding Investment Company, $2.8 million in compensation for material and moral damages. Al-Rajhi and his brothers were accused of seizing the properties and assets of Tameer Holding Investment, including the shares of its founder, Ayesh. “The ruling is historical for … Continue reading UAE convicts Saudi minister of fraud, issues $450m fine