Maan Al-Sanea, News, Pictures, Buzz

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Maan Al-Sanea
  Indian, Pakistani Workers Protest for Not
Al-BawabaIndian, Pakistani Workers Protest for Not Being Paid for 7 MonthsThe QuintSaudi billionaire Maan al-Sanea owns the Saad Group, which made headlines last week when the staff at one of its hospitals began an open-ended strike over not being paid since May. On its website, the Saad Group says it runs “diversified businesses” in ...Foreign workers in Saudi Arabia block highway over lack of payAl-Bawabaall 2 news articles »
Posted on 28 September 2016 | 6:43 am
  Saudi Arabia: Employees of Saad Specialist
Al-BawabaSaudi Arabia: Employees of Saad Specialist Hospital strike over unpaid wagesAl-BawabaThe hospital is owned by Saudi businessman Maan al-Sanea, the founder and chairman of the conglomerate Saad Group. Thousands of migrant workers in Saudi Arabia are currently stuck without a job and pay in the kingdom as the country grapples to deal ...Saudi and foreign workers unite to strike over unpaid wagesMiddle East Eyeall 8 news articles »
Posted on 21 September 2016 | 3:02 am
  Saudi Group Signs Deal Aiming to End Biggest
BloombergSaudi Group Signs Deal Aiming to End Biggest Mideast DefaultBloombergAlgosaibi and billionaire Maan al-Sanea's Saad Group, two family holding companies related by marital ties, defaulted on at least $15.7 billion in 2009 as the global economic crisis froze credit markets and asset prices slumped. The companies have been ...Saudi Arabian Conglomerate Agrees to $6 Billion Debt Plan With CreditorsWall Street JournalSaudi's Algosaibi signs deal with steering group on drawn-out restructuringAMEinfoall 6 news articles »
Posted on 25 July 2016 | 12:11 am
  Opening salvos in massive Saudi fraud case -
Cayman CompassOpening salvos in massive Saudi fraud caseCayman CompassBeginning his opening statement in what is expected to be a seven-month trial in Cayman's Grand Court, David Quest, QC, said Maan Al Sanea had engaged in multiple scams over nearly a decade to raise money for his own gain and lavish lifestyle at the ...False start for mammoth Saudi fraud trialCNS Businessall 3 news articles »
Posted on 19 July 2016 | 4:44 pm
  Courtroom transformed for Saudi case -
Cayman CompassCourtroom transformed for Saudi caseCayman CompassThe case revolves around claims from Ahmad Hamad Algosaibi and Brothers that Maan Al Sanea, who married into the family and managed its financial services businesses, engaged in massive unauthorized borrowing, siphoning off proceeds to his own ...
Posted on 18 July 2016 | 5:53 pm
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Maan Al-Sanea
  In Saudi Saga, Big Four Auditors Safe from
In 2009, Saad's billionaire owner Maan Al Sanea was accused of a colossal fraud and embezzlement scandal that was discovered after AHAB reported financial problems leading to its default. This set off "one of the largest corporate collapses of the credit ...
Posted on 21 August 2015 | 8:42 am
  Geneva prosecutor ends six-year
DUBAI/GENEVA, Aug 20 ( Reuters) - A Geneva prosecutor has closed a six-year investigation into a criminal complaint by Saudi Arabia's Ahmad Hamad Algosaibi and Brothers (AHAB) against Maan al-Sanea and two units of his Saad Group, the prosecutor's office ...
Posted on 20 August 2015 | 2:15 am
  The American banker at the heart of the
(Reuters/James Lawler Duggan)Manama, Bahrain.American banker Glenn Stewart worked as "chief house slave" for ... in which Stewart and his Gosaibi family partner, billionaire Maan al-Sanea, are accused of stealing up to $10 billion and driving the ...
Posted on 6 April 2015 | 1:18 pm
  Saudi’s Algosaibis Settle Case Against
The settlement is a small step in a much bigger case in which the Algosaibis allege they were defrauded by Maan al Sanea, a Saudi businessman married to a member of the Algosaibi clan. Mr. al Sanea has denied claims that he and his Saad Group orchestrated ...
Posted on 2 October 2013 | 8:00 pm
  AHAB Agrees To Settlement With Glenn Stewart
Lewis also stated that, given that Stewart dealt regularly with all of the banks and with Maan Al Sanea, his agreement to provide information that can be used in AHAB's litigation against other participants "at the end of the day is far more valuable than ...
Posted on 30 September 2013 | 8:01 pm
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Maan Al-Sanea
  Chris Hedges on The Mafia State
Systems of governance that are seized by a tiny cabal become mafia states. The early years—Ronald Reagan and Bill Clinton in the United States—are marked by promises that the pillage will benefit everyone. The later years—George W. Bush and Barack Obama— …
Posted on 5 December 2016 | 9:34 pm
  Stater Bros. leader Jack Brown dies at 78
Let me preface this summary by stating this is a local So.CA story, but that the individual written about is Americana at its best. Here is a CEO who actually cares about his community, people, and all of America. If only all CEO's were similarly inclined, oh what a Nat …
Posted on 5 December 2016 | 9:29 pm
  Amazon's grocery store of the future: No
This is what WS is looking for...
Posted on 5 December 2016 | 8:29 pm
  Florida voters sue for recount
TALLAHASSEE — Three central Florida voters are mounting an unlikely bid to overturn the presidential election result in the Sunshine State. In a lawsuit filed Monday in Leon Circuit Court, they assert that Hillary Clinton, not Donald Trump, actually won Florida …
Posted on 5 December 2016 | 8:18 pm
  Ben Carson: Repeal Community Reinvestment
President-elect Donald Trump’s choice of Ben Carson to head the Department of Housing and Urban Development (HUD) provides the chance to rethink a great deal of what the 1960s-era agency has done. In many ways, HUD’s entire mission — based on the mistaken idea t …
Posted on 5 December 2016 | 7:12 pm
Source: Twitter
Maan Al-Sanea
  PurSpectives_: RT @censorednewsnow:
PurSpectives_: RT @censorednewsnow: Saudi billi@^aire" maan Al Sanea " and M@^ey Laundering with bank of America @PurSpective…
Posted on 22 June 2016 | 10:31 am
Source: Answers
Maan Al-Sanea
  Resolved Question: When people talk about
Such as when someone has things to say of that Pakistani, that indian, that chinese etc etc.. im kinda getting fed up with it all. Is this racism? I know many people from different cultures such as arabs, americans, british that commit fraud, who cheat etc etc.... so please think of the context before you submit a question, think of the bigger picture. @Mahesh N - Well said i like your elaboration, and its all true well said again and thank you @H - No H you got me wrong, it was a general question, nothing to do with what you said at all. Like everyone else i have my free will to ask question. @H - Ans yes to the point westerners cheat their own kind even in there own countries, it happens but people dont see maybe they dont want to and turn a blind eye. I agree asians are cheaters but not as bad as Americans, british who have cheated muslims all over the globe, and also westerns cheated there own fellow men out of money etc etc... @Anna - Thank you for your kind words, and your input @H - I can ask what i want here, like other people, whats accomodation go to do with it, i know you are a clever and smart girl you dont have to tell me, many questions get posted in the UAE section including mine, i have every right to post what i want. If you have and mahesh have any friction please sort it out your selfes, i like what he said with out offending others, i dont think he was being racist he was just clarifying the facts which he strongly believes in. We all share our views and opinions here and its not racism, I know H you are not racist but niether am i, I dont know about others. Have you ever notices some of the replies i get H there personal and offensive but i brush it to one side. H as i said before your a good person, keep it up :)) i have nothing against you.
Posted on 18 February 2010 | 1:21 am
  Resolved Question: The National publishes a
The media is biased. Rather than talk about Indians running away with their money, they talk about Dubai world and Maan al Sanea. I thought the National was not a tabloid like the gulf news.
Posted on 8 February 2010 | 9:10 pm
  Resolved Question: 4 years delay and not
If any one of us delay making a payment that is due to a developer / financial institution, we would have the cops hunting for us. When Nakheel or Maan al Sanea (Saad Group) use OPM (other people's monies) and get away for years at length, we are simply left helpless. The moral of the story is if you wish to default - make sure that you are really big. If you owe the bank 50K, you're screwed, if you owe the bank 50 Million, the bank is screwed.
Posted on 14 November 2009 | 10:34 pm
  Resolved Question: It is a slow news day so
the UAE's and Saudi's ability to buy our bonds in the near future? ‘Never Go Bust’ Families Mean End of Easy Credit (Update2) Sept. 17 (Bloomberg) -- Maan al-Sanea, one of Saudi Arabia’s richest men, operates his corporate empire barricaded behind a four-foot high concrete wall, painted in bright red stripes. A second, higher wall is topped with barbed wire, a reminder of the terrorist attack on his company’s nearby residential compound five years ago that killed 22 people. Now al-Sanea is under a different kind of siege, this time from the family he married into and helped make him wealthy. In a region where business disputes are routinely settled in private, the family feud between the two most prominent names in the Saudi oil city of Al-Khobar -- Algosaibi and al-Sanea -- has erupted into public and curbed lending across the Gulf. Eighty banks, including BNP Paribas SA and Citigroup Inc., are owed at least $15.7 billion, sparking a flurry of litigation. The battle has increased pressure for more transparency among the region’s family-run firms and less reliance on name lending, or borrowing based on reputation. “With Maan al-Sanea or the Algosaibi family, the perception was that they would never go bust or never default,” Yazan Abdeen, a Dubai fund manager at ING Investment Management, said. “Facts are showing that this can happen. The banks in Saudi, Kuwait and the United Arab Emirates will get a hit, and this will make the banks alter their own lending models. It’s like a ‘black swan’ event, something no one saw coming.” Al-Khobar, an oil-rich seaside city in the Persian Gulf, 250 miles east of Riyadh, is the center of a legal and financial struggle that has seen some of the Algosaibis accuse al-Sanea, ranked 62nd on this year’s Forbes magazine list of richest people, in court filings of siphoning off $10 billion in assets while he was running a money-management business for them. Accounts Frozen The Saudi Arabian central bank ordered a freeze of al- Sanea’s accounts, bankers familiar with the instructions said on May 31. The Algosaibis then used a Cayman Islands court order to try to freeze $9.2 billion of his assets, court documents show. “All of the allegations made are wholly without foundation,” al-Sanea’s company, Saad Group, said yesterday in an e-mailed statement. “While maintaining an absolute focus on its own restructuring, the Saad Group will respond appropriately and in a timely fashion to the erroneous claims made against it. However, this will be through a proper judicial process and not through the media.” The Algosaibis declined to comment for this story, James Courtovich, a Washington-based spokesman for the family, said. read the rest---
Posted on 17 September 2009 | 9:50 pm
  Resolved Question: Maan Al Sanea full birth
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