Indebted family conglomerate Al-Gosaibi has sued the Swiss subsidiary of troubled rival Saudi conglomerate Saad Group for alleged fraud in Switzerland, according to Swiss newspaper La Tribune de Geneve.
The newspaper also said, without quoting sources, that the offices of Saad Financial Services SA in Geneva had been searched.
No-one at the Geneva's chief prosecutor office and at Saad Financial Services SA was available for comment.
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