Two Saudis Princes Face Allegation of "Money Laundering" for Hezbollah

Two prominent Saudi princes believed to be involved in a London-registered company that allegedly facilitated “money laundering” for Hezbollah are at the centre of a major court battle that is about to hit London’s High Court again.
The High Court is gearing up to hear a series of allegations against two Saudi princes who are accused of funding Hezbollah by fraudulent means. London is continuing to attract complex international cases, underlining its place at the top of the litigation table.
It is the story of two Saudi princes, a telecoms company, alleged funds channelled to Hezbollah and a row over the suppression of vital documents in a battle that would rival that of Kazakhstan’s JSC BTA Bank’s dispute with Muktar Ablyazov (6 February 2012).
Two Saudi princes – two of the most prominent Sunni Muslims in the world – face allegations of facilitating money laundering for US-classified terrorist organisation Hezbollah through a business in which they were shareholders.
Prince Mishal Bin Abdulaziz Al Saud

Prince Mishal bin Abdulaziz Al Saud, a former defence minister, brother of King Abdullah and chairman of the country’s influential allegiance council, and his son, Prince Abdulaziz bin Mishal bin Al Saud, are both named as defendants in this snowballing case.
The prince launched the claim back in 2011 when he filed a petition of unfair prejudice against fellow shareholder, Apex Global Management, a company owned by Jordanian businessman Faisal Almhairat.
Apex Global Management and Global Torch Ltd -  both directed by the prince - were the principal shareholders in telecomms company Fi Call. Almhairat agreed with Global Torch to launch the London registered company in 2006.
Almairat’s share was primarily held by his Seychelles-based firm, Apex Global Management, while the princes’ shares were mainly owned through Global Torch, a British Virgin Islands (BVI) company.

Prince Abdulaziz Bin Mishal Bi Al Saud
Global Torch contends that Almhairat had “misappropriated funds from the company, had misconducted the company’s business in various ways, [and] had failed to keep proper books” and should be blamed him for its failure.
Details of the claims and subsequent counter claims were initially kept out of the public eye as the Saudi’s attempted to use their royal connections to claim sovereign immunity.
In March the High Court refused to accept arguments from Clifford Chance that a London trial could damage relations between the UK and Saudi Arabia (21 March 2013).
Almhairat became involved with the princes after his son developed an application enabling smartphones to make free calls to other users under company Nida’s Amman. On 24 September 2009 Nida’s Amman and Almhairat handed the intellectual rights to the app to Fi Call PLC for just a £1.
In November Prince Mishal became the chairman of Fi Call and all the Global Torch shareholders took stakes in the business.
Almhairat became suspicious of Fi Call when HSBC told him he was no longer welcome as a customer in March 2010 and told him to move all his company and personal accounts elsewhere.
Almhairat allegedly informed defendant and Global Torch shareholder Emad Mahmoud Ahmed Abu-Ayshih that his credit had been refused, but later the same month Ayshih asked him to arrange a $5m bankers’ draft financed by Fi Call to be taken to Beirut for a man named Abdel Razzaq.
According to a judgment issued in June, Almhairat allegedly decided to investigate the identity of Razzaq and was told that he was “not a businessman with investments in Lebanon but was a middleman for Hezbollah”.
The High Court was shown the alleged correspondence to Ayshih, in which Almhairat raised concerns over the suspected funding from the princes.
But the court heard that Almhairat had later been contacted by the prince, who, according to an Apex transcript, said: “Mr Ayshih has told me about the conversation he had with you. I’m not pleased with it…We deal with whoever we want to deal with, whether it’s Hexbollah [sic], the mafia, or even the Jews.”
He added: “Be sure if we remove our protection, you and all your family are dead within a second. Do as you are instructed. Otherwise your head will be at my feet without your body.
“…I need to show the Hexbollah that we can transfer the money to them smoothly. They have potentially billions which they want to be transferred. My father is very interested in this deal and he will be very pleased with us if things go well.”
The contentious correspondences submitted to the court has been the subject of intense debate and disagreement between both parties and the princes have fought to keep numerous documents secret.
Although the princes bought the case initially, their desperation to keep the case behind closed doors transformed it into an epic series of battles over jurisdiction, sovereignty and reputation. It pitted the princes against the UK media as well as Almhairat in six hearings over February, March, June and July (16 May 2013).
The Court of Appeal put the final kybosh on the privacy bid in July, holding that details of the allegations should be made public (10 July 2013).
In a case management conference in July, Mr Justice Vos ordered that a copy of all relevant materials should be created and ordered that a statement of truth should be submitted to the court from all parties including Prince Abdulaziz, who refused.
In September Mr Justice Norris reiterated the order made by Vos J and issued a Unless order to support the direction. He stated that unless the prince complied he would be debarred.
Norris J said: “Everyone else will have their cards on the table. The prince will deal through an agent. Everyone else will be exposed to criticism and have their credibility attacked if they are shown to have concealed some relevant account, relevant device, or relevant communication. But the prince says that he should be exempt…some sanction must be applied.”
Despite this, the Prince failed to comply with the order. He was subsequently debarred and ordered to pay $7.7m to Apex Global Torch. He is now looking to quash the order at the CoA. The Prince and his fellow Global Torch shareholders are looking to set aside the Norris J judgment, vary the order of Vos J and seek relief from sanctions. This will be the subject of the next hearing in the coming months.

http://www.thelawyer.com/analysis/market-analysis/practice-areas/litigation-analysis/the-tale-of-two-saudi-princes-in-the-high-court/3014931.article

Comments

  1. The SauDi îs long known for sponsoring terorist organizations from Hezbolha to other Islamic teroorist groups.Waht is WHY George Bush Jrdefined them as AIXS OF EVIL.This year the Suadi's Dictator to hide his terror and blood hands, gifted LEBANON governemnt over u$ 3 BIllion dollar to suposedly fight terorism and that after it was rumored that An Hezbolla agent attempted to murder a Saudi Prince.The donation is seen as just a PR gimmick by experts.But this move can only fuel sectarians conflicts between Suni and Shia in that country,killing each other since the death of prophet Mohammad.

    Saudi support of terrorism is not done becuase Hezbolla is fighting ISrael,for Suadi does sponsor other terrorist group around the Muslim world but to spread the radical version of Suni islam-WAHHABISM---began in earnest 1962 with the establishment of MUSLIM WORLD LEAGUE.

    Moreover,Those SAUDIS consider themsleves as the heritage of MOhammad and feel they have a natural bolgiation to psread Islam worldwild and force it on other by all means.They sponsor the building of Mosuqes in foreign countires and have even via Khalifa to brainwashed rogue PP governemnt to allowed them bo illegally built mosques in our majority Chirstain soceity with the soely aim to spread Islam in Seychelles and if necessary by force against the will of Seychellois people which is interferent in National affairs of our Land and a risk to our sovereignty.

    Saudis did not hesistate to sponsor the building of a Mosque in New York just mters from GROUND ZERO,to prove to the world how primitive and disrespectful they are.
    This article confirm why Seychellois donot want the present of KHalifa in their Christian Land and his interferent in our politcs.Theose Camels just do not have anything in common with us and we see nothing in common with them.PP want us to love thier criminal friends but Seychellois think they know their real firends and not those Dictaotiral,autocrat,crooked firends to the likes of Castro,Khalfia,KIm,CHinese and other despots.Our firends Pp are nations from democratic countires from France where part of our ancestors come to USA who beleive in UNIVERSAL VALUES like us and Not the COMMUNIST;DICTATORIAL;THUGGISH VALUES FAURE want us to follow by dictating to us recently that "OUR VALUES (MEANING HIS COMMUNSIT CRIMINAL VALUES is YOUR (SEYCHELLOIS)VALUES.FAURE think the values of pp criminal gang should be adopted by dictation by the majority who beleive in Universal values.What for a wicked like his SAUDIS,Arb Terrorist sdponsor cammarades.

    Jeanne D`^Arc


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  2. No different from The brothel Arab open at ex--Plantation club.They are knwon for their wickedness,rogueness,and their obssession for abusing Human rights and participating in world terorism just like Khaöfia when he sponsor Partilepep state terorism.Likes attracts likes.

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  3. Sunnis are closely linked to Al Qeada Terrorist network as well.
    They are using Seychelles as a base for rest, rehab, and money laundering.

    ReplyDelete
  4. Saudi king,UAE and rest of the arab countries with oil money are the main sponser of terorists in the middel east.Thats why they have to got involed in money laundering need more money for Al Qeda.

    ReplyDelete
  5. Now terorists are involed in Iraq,syria,nigera,mali,paskistan,afganistan,liyba ect sunnis need more money to buy arms for Ql Qeada.I mention befor that arabs terorists are on our soil they cime and go. CIA must make a visit on this island call Seychelles.

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  6. Jeann pp know European countries will not finance them anymore,they are now in the ass of asian countries to continue taking debt to sponser their party.Just wait until next election,we will those crooks buying vote passing house to house and brain those old man with alcohol.its suck just to drink of few beers from pp during election and your country and its peoples paying the price and suffering after a munipulation election.

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  7. Thats why Saudi king want US to attack Syria to help Sunnis terorists.Syrian peoples make their revolution ans Sunnis terorists came and hijack it like Pp have done with our independence hijack it.

    ReplyDelete
  8. Michel in UAE--to attend Seychelles Blue economy-Michel tells us UAE and Seychelles is organizing the meetin.Is our Blue Economy for UAE Michel?What has UAE has to do with Seychelles EEZ?Are we a colony of UAE.IS Khalfia king of Seychelles that he must interfere in our couniry's affairs?

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  9. iN REGARDS TO chinese Pp connection----CHinese Knows the only possbility to HAve a naval base in the region,if possible is from a Crooked regime in the region for no Democratic countires would allow Chinese to play war games in their territories for the know the values and importance of Soveiregnty and territorial integrity.PP on it part is sure if it give Chinese the possiblity of building Naval base in our Water,The Chinese would do anything to keep PP(the crooked party that allow them to build naval in Indain Coean on powr by all means)including murders and other astrocities and can have the Chinese to defence thnem at the UN with its vote.For Pp it would be a good opportunity to grab to power,be psonsor by China communist and protected by CHina.We will not let Communsit china bullshit our teritories like In TIBET;or Taiwan,or the Japs;S Korea.mongolia etc....

    Next Elction --Pp wll do what it knows bset namely rob election---but there would be a different between the past robbery of election and this one in 2016--SAHOULD PP ROB OUR VOTES ------FORCE WOULD BE USED---tHE MAJORITY RIGHTS MUST BE RESPECTED AND IT WOULD BE RESPECTED VOLUNTARILLY OR BY FORCE.wE ARE NOT GOING TO LET A GANG OF DCROOKS ENSALVE OUR PEO'LE(THE MAJORITY BEYOND 2016).

    FAURE HAS A CHOICE CHANGE OR ELSE---

    Jeanne DÂrc

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  10. They sponsor HIsbolla,Bortherhoods,PLO,TALIBAN;Torrrists in North Africa,In Nigeria,CHad,Cnetral Afria and so on,Anywhere where there are Islamic Jihaddists butchering people ,SAUDIS and their brothers In UAE;OMAN (they all family members who decided to create each one his own states9)are invlove in the sponsoring of teorrists.

    Saudis For HisboLLa ,UAE for Partilepep,Oman Egyptian Brotherhood,Kuwait Hamas,BAHRAIN In Syria,Etc...They even sponsor terrorists aggression against Muslim countires who are not SUNI.THese donkeys are known for their wickedness.

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  11. PP do you see who Christian in central Africa bringing mosque down.Christian land in Africa will never let muslim conquer their land to bring devil philosophy.

    ReplyDelete

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