JEDDAH: The Court of Grievances yesterday set rigorous conditions for the release of Ibrahim Abu Jadael, the kingpin behind a multimillion-riyal scam who is currently in jail.
The court spelled out the conditions in its ruling on Abu Jadael’s plea for release in return for a promise to pay back people who invested in his company. Abu Jadael was jailed for cheating around 2,500 investors of SR150 million in capital for a bogus mobile phone production unit.
According to yesterday’s ruling, Abu Jadael has been called on to submit the names of all of his investors in court, as judges would like to hear directly from his victims. If two thirds of them consent to the repayment schedule he has proposed, then the court would consider his release.
The court directed Abu Jadael’s lawyer to produce documents demanded by the court.
Four hundred court verdicts have been issued against Abu Jadael so far. The last ordered him to liquidate his company and pay the shareholders.
The court learned that after collecting millions of riyals from unsuspecting investors, Abu Jadael did not take any steps to start the company although been granted a license to do so.
