Sunday, June 20, 2010

AlGosaibi v Maan AlSanea - Trowers and Hamlins Statement

One of my new and frequent commentators mused whether the fact that Trowers and Hamlins had launched a lawsuit against AHAB represented any sort of determination by T&H about the guilt or innocence of the parties involved in the case.

I had speculated that T&H was merely doing its job - going after the registered debtors of TIBC and pursuing collection of funds without making any such judgments.

That left us in a stand-off of opinions.

So, I posed a question to T&H through Hill and Knowlton.  Today I received the following response which I quote verbatim.
A Trowers and Hamlins spokesperson said: “Our investigations to date and other extrinsic evidence provided by third parties - which we are still considering - would suggest that there were irregularities in the manner in which the business of TIBC and other institutions connected with the AHAB / Saad situation was conducted.  However, investigation of fraud or other criminal activities and/or other material non-compliance by officers or other stakeholders of TIBC with the law or regulatory requirements essentially remains the remit of the public prosecutor and the CBB respectively and it is therefore not appropriate for us to comment or speculate further.”
As you'd expect a law firm to do, this statement is carefully crafted to avoid creating any unwanted legal problems for T&H.

There are several points I think are worthy of comment:
  1. That at this point what T&H has seen suggests - though not conclusively - that there were "irregularities in the manner in which the business of TIBC and other institutions connected with AHAB / Saad situation was conducted".
  2. That investigation of fraud, criminal activities or material non compliance with regulations is not T&H's responsibility but that of the "Relevant Authorities" in the Kingdom of Bahrain.
  3. Accordingly, T&H will not comment on such matters.

9 comments:

Anonymous said...

who are you?

Abu 'Arqala said...

Ibn M

A delightfully ironic question coming from an Anonymous poster.

Anonymous said...

Hi,

I think there is many problems with the way the companies were connected.
And I think the main problem was caused by westerners who were controlling both companies and they even had authoritis to sign documents in the name of Maan Al Sanea and may be in the name of other managers who were only acting like dummies.

I am a previus Saad Hospital employee and I have faced some evidence of accounts of al Gosaibi that were used to pay Saad employees and even to finance big projects at the hospital.

Abu 'Arqala said...

Anonymous (626)

Thanks your post.

This is the first time I've heard the allegation that Westerners were abusing Power of Attorneys given them by Mr. AlSanea.

Your comment also raises one other question.

Why would "Westerners" want to use AlGosaibi money to fund projects at Saad Hospital?

Anonymous said...

Good question.

They were using these projects which seems to be big and profitable to get finacing from local and international banks.

They were also raising their position at the company by showing fake profits and this gives them more power to control everything.

I was working in one of these projects which seems to be big and I saw what happens there which lead me to leave the project and later the company.

These guys were getting signatures of al sanea easily and they could do anything they want and I think they had the same power inside the Gosaibi company but I am not sure.

I think this is a big fraud case and its players are still not discovered.

Anonymous said...

I was paid to study online masters from Al Gosaibi account and I have a document showing this.

The document was generated from AHAB company with the originator field Saad Contracting & Trading Co.

Saad Hospital which I was working for did not have any documents showing that I was paid to study masters and they even dont know how much was paid to me.

Anonymous said...

The arguments off westerners controlling signatures is not in place

Mr maan controlled every thing from accounts to giving orders to send money in and out off the kingdom

The man is a professional criminal and was helped by westerners in advice to move the money and manage his over seas companies & banks

No need to get in more arguments like Trowers and Hamlins spokesperson said:

investigation of fraud or other criminal activities and/or other material non-compliance by officers or other stakeholders of TIBC with the law or regulatory requirements essentially remains the remit of the public prosecutor and the CBB respectively and it is therefore not appropriate for us to comment or speculate further.”

Lets keep it Courts and and local authorities for the investigations

Best Regards

Abu 'Arqala said...

Anonymous

Thanks for your comments.

As to leaving the determination of guilt or innocence of the parties involved to Courts and the authorities, a sound strategy as these bodies will have access to more information and better tools to make a determination.

However, I suspect that whatever the outcome. The partisans of the losing side will claim that they did not get a fair hearing. And prior to the issuance of any judgement, one central figure in this "affair" has fled claiming the process was unfair.

Anonymous said...

Its Rolling & calling. ro1lover the funds by the SAAD group by acting & controlling AHAB money exchange but they are refusing the allegation, but what is true where the money goes donot want to share more because the investigations is going on
the culprits made damage to the business morality