A court in the Bahamas has issued a decision to freeze 60 million US dollars worth of assets belonging to the former director of the Public Institute for Social Security Fahd Al-Raja’an after the court was petitioned by the institution’s petition filed the institution.
The institution based its petition on the verdicts issued by the UK Supreme Court on October 16, 2019 against Al-Raja’an, preventing him from acting from anywhere in the world.
The ruling, which was published on the court’s website, said that Judge Indra Charles agreed, last Monday, to a request submitted by PIFSS to register the international freezing order “issued in England” in the Bahamas to prevent Al-Raja’an from disposing of those assets, and the English court then estimated the total value of the international assets subject to rule at about $850 million.
Al-Raja’an reportedly has assets in countries such as Switzerland, Bahrain, Lebanon, Singapore, the United States and Liechtenstein!