Businessman ordered jailed for failing to repay SR41m

JEDDAH: The Jeddah Criminal Court has ordered the imprisonment of a businessman who failed to honor a court order to pay back SR41 million in debt.

The court ordered the prosecution of the businessman and his imprisonment until he fulfills all financial liabilities or proves his insolvency and bankruptcy.
According to a report in a local publication, the court found that the businessman absconded after refusing to honor the verdict. As such, his name was put on the public "wanted" list.
The verdict stated that the public prosecutor had received a letter from the President of the Court of Execution requesting the prosecution of the businessman. The court requested the application of the law on the missing businessman and decided on the need to arrest him after he was put on the list of wanted persons.
In another case, the court ordered the implementation of six judgments on companies and private enterprises. A total amount of about SR28 million are to be deducted from their respective banl accounts, the court ordered and said the ruling should be executed within five days.
In cases of defaults or delays, the court will apply the executive imprisonment punishment on the individual involved and will force them to disclose their assets and pay the dues.
The Court of Execution in Jeddah has addressed 12,000 requests and managed to recover about SR9 billion in funds from people who were late in the repayment of their dues. Since the application of the executive system five years ago, the court has recovered approximately SR115 billion.