Bahamas freezes Al-Rajaan assets
A court in the Bahamas has issued a ruling to freeze assets worth USD 60 million belonging to the former director of the Public Institution for Social Security Fahad Al-Rajaan based on a petition from the institution to the court in line with an international asset freeze ruling issued by the Supreme Court of England on October 16, 2019 against Al-Rajaan, preventing him from using assets anywhere in the world, reports Al-Seyassah daily.
The ruling, which was published on the court’s website, declared that Judge Indra Charles last Monday agreed to a request submitted by the Public Institution for Social Security to file for the international freezing order, which was issued in England, in the Bahamas to prevent Al-Rajaan from disposing of those assets. The English court had estimated the total value of the international assets subject to the ruling at about USD 850 million. Al-Rajaan reportedly has assets in countries such as Switzerland, Bahrain, Lebanon, Singapore, the United States and Liechtenstein.
