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Posted On: 18 November 2009 12:09 pm
Updated On: 12 November 2020 02:10 pm

Lawsuit filed against fraud firm

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About 100 victims of a local investment firm involved in fraud filed a lawsuit against the firm’s officials who cheated nationals, residents and people abroad of tens of millions of riyals. They demand the restoration ranging from QR100, 000 to QR1m they had invested in the firm which failed to fulfil its promise to distribute the profits after one year. They discovered that the firm manger had fled outside the country and the company was closed. It is worth to mention that an Arab businessman in collaboration with two partners in charge of a trade and public contracting local company had fled outside Qatar after seizing the money of the firm clients. The firm has to repay an amount of QR28m to its clients.