Solely aggregation of news articles, with no opinions expressed by this service since 2009 launch on this platform. Copyright to all articles remains with the original publisher and HEADLINES ARE CLICKABLE to access the whole article at source. (Subscription by email is recommended,with real-time updates on LinkedIn and Twitter.)
Wednesday 27 January 2010
Oman says uncovers US$220 mln investment fraud
Thousands of investors have been swindled out of a total of 88 million rials (US$220 million), Oman's prosecutor's office said on Wednesday, in what one analyst said could be the Gulf Arab countries biggest securities portfolio fraud.
"So far, as many as 3,254 people fell prey to the swindlers and the total amount swindled by the cheats so far stands at 88.4 million rials," the public prosecutor's office said in a statement.
The statement said five of seven people suspected of involvement in the securities portfolio fraud were in custody while two were still at large. It did not name the suspects.
No comments:
Post a Comment