Maan Al-Sanea
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Maan Abdul Wahed Al-Sanea | |
|---|---|
| Born | 1955 Khobar, Saudi Arabia |
| Nationality | Saudi Arabian |
| Occupation | Businessman |
| Known for | Founding the Saad Group, a conglomerate with operations in construction & engineering, real estate development, financial services and investments |
| Criminal status | Arrested in October 2017 in his home in Saudi Arabia |
Maan Abdul Wahed Al-Sanea (born 1955, Khobar, Saudi Arabia) is a Saudi businessman of Kuwaiti origin. In 1980, he founded the Saad Group, a conglomerate with operations in construction & engineering, real estate development, financial services and investments. He has also founded a private hospital, several educational facilities and a support center for special-needs children and their families.[1] It is alleged that he funded all this by defrauding his wife's family, the Al Gosaibis.[2]
Al-Sanea’s family investment company, Saad Investments Co. Ltd. collapsed in 2009 and remains involved in a lengthy liquidation process,[3][4] including the case Singularis Holdings Limited (in liquidation) v Daiwa Capital Markets Europe Limited.
In October, 2017, he was arrested in his home in Saudi Arabia.[5]
References
- ^ "#112 Maan Al-Sanea". The World's Billionaires. Forbes. 2008. Retrieved 17 June 2011.
- ^ The Kings of the Desert An American banker, a Saudi billionaire, and a financial collapse that stunned the Middle East., Nicholas Schmidle, April 13, 2015, The New Yorker
- ^ Davis, Alex (1 February 2017). "Saad Co. Liquidators Lose $318M Claim In UK Supreme Court - Law360". Law360.com. Portfolio Media, Inc. Retrieved 2 February 2017.
Saad Investments Co. Ltd. ... was wound up in 2009.
- ^ Whittaker, James (21 March 2015). "A Saudi saga". The Economist. Retrieved 3 February 2017.
- ^ In Saudi Arabia, an Arrest in a Billion-Dollar Bank Bust, Nicholas Schmidle, November 7, 2017, The New Yorker