- DAMMAM: Saudi businessman Juma Al-Juma, who was asked by the administrative court in Dammam on March 8 to repay his 8,000 investors SR1.2 billion, denied any knowledge of the ruling, local Arabic daily Al-Riyadh reported Thursday.
The case has been in the courts for more than 10 years.
Juma opened an investment firm in 2000, which was later closed down for violations, leading to jail time for its owner and accomplices. The company’s capital and assets were also frozen.
Court-appointed lawyer Saleh bin Abdullah Al-Naeem was given power of attorney over the resources of the defendant and was asked to work out modalities of repaying investors.
The newspaper quoted Al-Naeem as saying that a special website would be established for the investors to enter their data, including contracts signed with the jailed businessman. He said they would make a thorough inventory of all the assets and capital resources of the accused and would work out a mechanism under which they would repay the investors.
The newspaper said it tried to contact the lawyer after the accused had denied any knowledge of the court ruling but there was no answer.
