JEDDAH, 8 June 2004 — The Commercial Fraud Committee has seized a consignment of about 1.7 million fake watches meant for 32 local establishments. The watches were being transported by land from Dubai. Ahmad Al-Ghamdi of the Commercial Fraud Committee said that the police were supported by representatives from the Ministry of Commerce. He said those selling the watches attained profits in excess of SR1 billion as a result of distribution in Saudi Arabia. International companies thus suffer huge losses. Al-Ghamdi said the committee had demanded the names of all 32 local businesses. Details have been submitted to the authorities and action will be taken.
