Saudi firms sue former spymaster, allege $3 bn fraud

OTTAWA: Saudi state-owned companies have sued the country’s former intelligence czar in a Canadian court, alleging he stole billions of dollars, according to documents obtained late on Friday by AFP.

The 10 subsidiaries of Tahakom Investment Co — which is owned by Saudi Arabia’s sovereign wealth fund — said in the civil suit filed in Ontario Superior Court that Saad Aljabri committed a “massive fraud” totaling at least US$3.47 billion.

Aljabri, exiled in Canada, was a top aide to Prince Mohammed bin Nayef, who was deposed as heir to the throne by Prince Mohammed bin Salman in a 2017 palace coup. A campaign advocating for Aljabri said in a statement he and his family will “fight the recycled corruption allegations vigorously and are confident they will succeed in dismissing them.”