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Article: Saudi freezes billionaire's accounts
- Article from:
- AP Worldstream
- Article date:
- May 31, 2009
- Author:
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Saudi Arabia's Central Bank has ordered local banks to freeze the accounts of a Saudi billionaire billed as one of the world's richest men, a person familiar with the order said Sunday.
The Saudi Arabian Monetary Agency also ordered banks in the country to freeze transactions with Maan al-Sanea, the chairman of the privately-held Saudi conglomerate Saad Group and owner of a 3 percent stake in HSBC Holdings PLC, the individual said.
The individual demanded confidentiality because of the sensitivity of the matter.
SAMA did not provide any explanation for the order, which was sent to banks in the oil-rich kingdom on May 28, and also affects five of al-Sanea's relatives, ...