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Real estate fraud in Saudi Arabia
Posted: 02-06-2005 , 09:27 GMT

According to Al-Riyadh newspaper (June 1, 2005), S, Majid (II) bin Abd al-Aziz, Governor of Mecca Province, yesterday ordered the release of Mr. Mohammed Al-Aslani who had been previously arrested by the Police in Taef following complaints by local real estate investors. The investors accused Al-Aslani with raising money from them for joint stock real estate companies without having necessary permits. Saudi Arabia

 

The decision to free Al-Aslani came after an investigation, which showed that he has the appropriate business registry and work permits. Some famous real estate investors in Taef province complained in the past that some of colleagues avoid investing because of the SR 1 billion operated business by Al-Aslani.  

© 2005 Mena Report (www.menareport.com)

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