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| -Lurid Crime Tales- |
| Chief executive of Al-Raya Investment found dead |
| 2009-07-27 |
| [Iran Press TV Latest] A Kuwaiti investment broker, facing a lawsuit in New York for allegedly reaping illicit profits, has been found dead in an apparent suicide in his home in Kuwait. The 30-year-old Chief Executive of Al-Raya Investment Company, Hazem Khalid al-Braikan, was found dead from a single gunshot wound to the side of the head in his two-storey villa in al-Rawdha on Sunday, a police standing outside his house said. They find the gun? Powder burns on his head? Residue on his hand? If he's right-handed, which side of his head has the entrance wound? Al-Raya Investment, 10 percent of which is owned by Citigroup Inc, had been at the center of a financial scandal that erupted last week. Citigroup denied any wrongdoing in a statement published on Sunday by Kuwaiti newspapers. Nope. Ask Hazem. Ooooops...sorry. A lawsuit was filed in New York on Thursday by the US Securities and Exchange Commission (SEC) against Al-Raya and three other Persian Gulf financial institutions for alleged 'hoax bids for US companies'. The SEC says that Braikan and the three companies had engaged in 'an illicit scheme through which they reaped millions of dollars in profits from trading around hoax offers to acquire US companies'. Braikan and the companies allegedly "traded around false news of a purported tender offer by a Middle East investment group to acquire Harman International Industries at USD 49.40 per share." "A phony press release publicizing the hoax offer was faxed to media outlets on Sunday, July 19, and subsequently reported on the Internet on Monday, July 20, before the stock market opened," the SEC said. |
| Posted by:Fred |