Saudi ministry said to seize SAR 1.5 bln of Al Mojil CEO's assets

10/05/2015 Argaam
The Saudi ministry of justice has issued a preventive measure to seize SAR 1.5 billion in assets owned by Mohammad Hamad Al Mojil, Al
​ ​
Arabiya TV reported, citing a spokesperson from 
​Mohammad ​
Al-Mojil Group.  
 
The move is said to be part of a lawsuit filed by the Capital Market Authority (CMA) against MMG’s chairman.
 
Last March, the Saudi ministry of commerce referred several of the company’s board members to the kingdom's bureau of investigation and public prosecution
​​
, according to data compiled by Argaam.
​ The referred members were said to be responsible for the company's financial troubles. ​
 
The firm has not traded on Tadawul since July 22, 2012, when its shares were suspended by the CMA after accumulating losses over 50 percent of its capital.

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