$3 Billion fraud case alleged on former spymaster by a Saudi Firm

Saudi companies have sued the former intelligence czar in a court in Canada, alleging that he did a fraud of billions of dollars according to documents obtained by AFP.

The subsidiaries of Toahakom Investment Co., owned by Saudi Arabia’s wealth fund, said in the suit that Saad Aljibri committed a huge fraud that was totaling at least USD 3.47 billion.

Aljibri was a top aide to the Prince of Saudi Arabia but was exiled in Canada. A campaign in favor of Aljibri said that he and his family would fight against the corruption allegations and are confident that they would succeed.

The Ontario court has the order to freeze all the assets of Aljibri. The lawsuit accuses him of funneling money from companies that are funded by Saudi for counterterrorism activities, to himself and his family.

The lawsuit further exclaimed that although the investigation is ongoing, it is clear that between 2008 and 2017, he oversaw a conspiracy that incorporated at least 21 conspirators across 13 jurisdictions.

Aljibri last year filed a case against the Prince that he had sent a hit squad to Canada in 2018 for killing him. But the plot was allegedly detected and disrupted by Canada before they could act on the plan. He further said that the Prince wants him dead as he has been close to the Prince and knows the intimate information on the ruler that would hamper relationships between Washington and Riyadh.