He said case liquidators have obtained a preliminary court order revoking the sale of 128 plots of land in Al-Shatie district in northern Obhur.

“This court verdict opens a new door for investors to retrieve their money through another installment payment,” he said.

Al-Ajhouri and his men tried to sell these plots 29 years ago on installments but those who purchased them failed to pay their outstanding dues even after advertising in local newspapers throughout the year.

The liquidators are still collecting money for the plots sold through an auction last year. If any of the buyers fail to pay the value of their purchases, the liquidators will nullify the deal.

Meanwhile, some of the payments made through Arab National Bank bounced as the beneficiaries did not provide their IBAN numbers. Some foreign investors have not given their SWIFT codes in order to facilitate the transfer of money to their accounts.

According to a verdict issued by Abdullah Al-Zahrani of the administrative court, payment of compensation will be stopped for those investors who have failed to submit relevant documents to the liquidators to prove their capital investment. Of the total 8,765 investors, 3,569 have not yet submitted their documents.

Al-Ajhouri has been in prison in Jeddah and Riyadh for the last 28 years after being convicted of swindling more than SR1 billion from investors from 37 countries in fake real estate investments. The auditor urged his victims to update their details online.

The victims include 3,623 Saudis, 1,472 Egyptians, 913 Palestinians, 778 Jordanians, 590 Syrians, 340 Yemenis, 180 Pakistanis and 51 Sudanese, in addition to a number of unregistered investors.