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Wednesday, 21 September 2016

Former RAK Investment Authority chief arrested in Saudi Arabia | The National

Former RAK Investment Authority chief arrested in Saudi Arabia | The National:

"The former chief executive of Ras Al Khaimah Investment Authority has been arrested in Saudi Arabia.

Khater Massaad, 63, a Lebanese-Swiss national, was detained at Jeddah Airport on Tuesday on an arrest warrant issued by Ras Al Khaimah.

Mr Massaad is accused of embezzling $1.5 billion (Dh5.5bn) while running the investment authority. He denies all charges brought against him."



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