Glenn Stewart, former chief executive of The International Banking Corporation (TIBC), is facing a legal claim of at least $9 billion (Dh33bn) in America from the Al Gosaibi family of Saudi Arabia.
Ahmed Hamad Al Gosaibi and Brothers (AHAB), the family's partnership, has filed an action in California that alleges aiding and abetting fraud, breach of fiduciary duty, fraud and fraud conspiracy, and unjust enrichment while he was chief executive of the now bankrupt Bahraini bank.
Mr Stewart, who fled Bahrain last year for his native California, said in an e-mail to The National that he would respond in detail once he had time to study the claims, but denied all the allegations.
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