The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announces the issuance of the Appeal Committee for the Resolution of Securities Disputes' (ACRSD) final decision No. (3247/L.S/2024) of 1445 H., dated 29/08/1445 H., corresponding to 10/03/2024, on the public penal case filed by the Public Prosecution (referred to it by the Capital Market Authority (CMA)) against: Hmoud bin Abdulaziz bin Hmoud Aldhiyab, Nouf bint Khaled bin Ibrahim Aljeraiwi, Ibrahim bin Khaled bin Ibrahim Aljeraiwi, Mesha'el bint Shaher bin Shay' Alshadadi Alharbi, Yazeed bin Abdullah bin Abdulrahman Almahmoud, Sahar bint Zuhair bin Ibrahim Musalam, Turki bin Abdullah bin Abdulaziz Aldakhil, Muhammad bin Zaid bin Muhammad Altamimi, Noura bint Abdulaziz bin Muhammad Aljeraiwi, Abdulrahman bin Ibrahim bin Abdullah Aljeraiwi, Abdullah bin Ibrahim bin Zaid Alshethri, Khaled bin Ibrahim bin Abdullah Aljeraiwi, and Musa'ed bin Muhammad bin Abdulaziz Almunifi.

The decision concluded with the conviction of the abovementioned individuals of violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations, for entering purchase orders to influence the share price, some of which linked with sale orders, while trading on the shares of the following companies: Wafrah for Industry and Development Co., Tihama Advertising and Public Relations Co., Jazan Development and Investment Co., Allianz Saudi Fransi Cooperative Insurance Co., Gulf Union Alahlia Cooperative Insurance Co., Allied Cooperative Insurance Group, Arabia Insurance Cooperative Co., United Cooperative Assurance Co., Al-Rajhi Company for Cooperative Insurance, Wataniya Insurance Co., and Al-Omran Industrial Trading Co., during the period from 04/05/2020 until 20/05/2021, while trading through their investment portfolios and investment portfolios belonging to other investors which are managed by Yazeed bin Abdullah bin Abdulrahman Almahmoud and Khaled bin Ibrahim bin Abdullah Aljeraiwi. Such acts and practices represented manipulation and fraud, and created a false and misleading impressions regarding the securities of the abovementioned companies.

The decision included the imposition of a number of sanctions upon them according to the following:

First: Hmoud bin Abdulaziz bin Hmoud Aldhiyab:

1. Imposing a fine upon him amounting to (SR. 90,000) ninety thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 767,472.90) seven hundred sixty-seven thousand four hundred seventy-two Saudi Riyals and ninety Halalas against the illegal gains achieved in his investment portfolio.
   
   Second: Nouf bint Khaled bin Ibrahim Aljeraiwi:

1. Imposing a fine upon her amounting to (SR. 350,000) three hundred fifty thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 1,225,370.91) one million two hundred twenty-five thousand three hundred seventy Saudi Riyals and ninety-one Halalas against the illegal gains achieved in her investment portfolio.
   
   Third: Ibrahim bin Khaled bin Ibrahim Aljeraiwi:

1. Imposing a fine upon him amounting to (SR. 30,000) thirty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 89,537.49) eighty-nine thousand five hundred thirty-seven Saudi Riyals and forty-nine Halalas against the illegal gains achieved in his investment portfolio.
   
   Forth: Mesha'el bint Shaher bin Shay' Alshadadi Alharbi:

1. Imposing a fine upon her amounting to (SR. 5,800,000) five million eight hundred thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 6,206,743.22) six million two hundred six thousand seven hundred forty-three Saudi Riyals and twenty-two Halalas against the illegal gains achieved in her investment portfolio.
   
   Fifth: Yazeed bin Abdullah bin Abdulrahman Almahmoud:

1. Imposing a fine upon him amounting to (SR. 500,000) five hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 1,334,455.86) one million three hundred thirty-four thousand four hundred fifty-five Saudi Riyals and eighty-six Halalas against the illegal gains achieved in his two investment portfolios.
   
   Sixth: Sahar bint Zuhair bin Ibrahim Musalam:

1. Imposing a fine upon her amounting to (SR. 400,000) four hundred thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 1,241,779.75) one million two hundred forty-one thousand seven hundred seventy-nine Saudi Riyals and seventy-five Halalas against the illegal gains achieved in her investment portfolios.
   
   Seventh: Turki bin Abdullah bin Abdulaziz Aldakhil:

1. Imposing a fine upon him amounting to (SR. 700,000) seven hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 3,882,378.81) three million eight hundred eighty-two thousand three hundred seventy-eight Saudi Riyals and eighty-one Halalas against the illegal gains achieved in his investment portfolio.
   
   Eighth: Muhammad bin Zaid bin Muhammad Altamimi:

1. Imposing a fine upon him amounting to (SR. 550,000) five hundred fifty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 426,915.90) four hundred twenty-six thousand nine hundred fifteen Saudi Riyals and ninety Halalas against the illegal gains achieved in his two investment portfolios.
   
   Ninth: Noura bint Abdulaziz bin Muhammad Aljeraiwi:

1. Imposing a fine upon her amounting to (SR. 30,000) thirty thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 1,768.40) one thousand seven hundred sixty-eight Saudi Riyals and forty Halalas against the illegal gains achieved in her investment portfolio.
   
   Tenth: Abdulrahman bin Ibrahim bin Abdullah Aljeraiwi:

1. Imposing a fine upon him amounting to (SR. 250,000) two hundred fifty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 228,327.88) two hundred twenty-eight thousand three hundred twenty-seven Saudi Riyals and eighty-eight Halalas against the illegal gains achieved in his investment portfolios.
   
   Eleventh: Abdullah bin Ibrahim bin Zaid Alshethri:

1. Imposing a fine upon him amounting to (SR. 120,000) one hundred twenty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 530,313.55) five hundred thirty thousand three hundred thirteen Saudi Riyals and fifty-five Halalas against the illegal gains achieved in his investment portfolio.
   
   Twelfth: Khaled bin Ibrahim bin Abdullah Aljeraiwi:

1. Imposing a fine upon him amounting to (SR. 8,000,000) eight million Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 8,037,263.55) eight million thirty-seven thousand two hundred sixty-three Saudi Riyals and fifty-five Halalas against the illegal gains achieved in his investment portfolio.
   
   Thirteenth: Musa'ed bin Muhammad bin Abdulaziz Almunifi:

1. Imposing a fine upon him amounting to (SR. 180,000) one hundred eighty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 818,627.35) eight hundred eighteen thousand six hundred twenty-seven Saudi Riyals and thirty-five Halalas against the illegal gains achieved in his investment portfolio.
   
   The decision also included obliging other investors to pay to the CMA the total amount of (SR. 1,155,691.20) one million one hundred fifty-five thousand six hundred ninety-one Saudi Riyals and twenty Halalas against the illegal gains achieved in their investment portfolios that resulted from the illegal trading performed by the convicted persons; Yazeed bin Abdullah bin Abdulrahman Almahmoud and Khaled bin Ibrahim bin Abdullah Aljeraiwi.
   
   Furthermore, any person affected by these violations in this case is entitled to file a compensation claim (as individual or class action) with the CRSD for the damage he/she suffered from due to these violations, provided that such claim is preceded by a complaint filed  with the  CMA on this regard, via the following link: (File Complaint)
   
   However, the GS-CRSD will announce to the public on its website in case of registering any class action in order to enable the rest of investors affected by such violations to apply to the CRSD to join the class action.
   
   (To view the dates of trading and security in relation to the violation, click here​)
   

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