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The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announces the issuance of the Appeal Committee for Resolution of Securities Disputes' (ACRSD) decision No. (1872/L.S/2020) of 1441 H., dated 16/06/1441 H., corresponding to 10/02/2020 G., in the case filed by the Public Prosecution (referred to it by the Capital Market Authority) against: Faris bin Fahad bin Rashed Alkhosan, Asma bint Abdulrahman bin Ibrahim Alsharidah, Khaled bin Hzoum bin Fhaid Alqfai'i Alshamary, Khaled bin Abdullah bin Hamad Albulaihed, Fahad bin Ibrahim Alabdullah Alamro, Fawaz bin Abdulaziz bin Jam'an Alghamdi.

The decision concluded with the conviction of the abovementioned individuals for violating Article (49) of the Capital Market Law, and Article (2) of the Market Conduct Regulations, for committing practices that created a false and misleading impression on the security of Saudi Public Transport Co. during the period from 18/07/2013 G until 28/05/2014 G.

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

First defendant: Faris bin Fahad bin Rashed Alkhosan:

1. Imposing a fine of (SR. 100,000) one hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 2,211,326.90) two million two hundred and eleven thousand three hundred and twenty six Saudi Riyals and ninety Halalas, for the illegal gains achieved on his investment portfolio.
3. Banning him from trading by purchasing shares of companies listed on the Exchange for his own account or as agent of others for a period of three months.

Second defendant: Asma bint Abdulrahman bin Ibrahim Alsharidah:

1. Imposing a fine of (SR. 60,000) sixty thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 4,880,368.55) four million eight hundred and eighty thousand three hundred and sixty eight Saudi Riyals and fifty-five Halalas, for the illegal gains achieved on her investment portfolio.
3. Banning her from trading by purchasing shares of companies listed on the Exchange for her own account or as agent of others for a period of three months.

Third defendant: Khaled bin Hzoum bin Fhaid Alqfai'i Alshamary:

1. Imposing a fine of (SR. 10,000) ten thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 445.95) four hundred and forty five Saudi Riyals and ninety-five Halalas, for the illegal gains achieved on his investment portfolio.
3. Banning him from trading by purchasing shares of companies listed on the Exchange for his own account or as agent of others for a period of three months.

Fourth defendant: Khaled bin Abdullah bin Hamad Albulaihed:

1. Imposing a fine of (SR. 90,000) ninety thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 11,828,799.05) eleven million eight hundred and twenty eight thousand seven hundred and ninety nine Saudi Riyals and five Halalas, for the illegal gains achieved on his investment portfolio.
3. Banning him from trading by purchasing shares of companies listed on the Exchange for his own account or as agent of others for a period of three months.

Fifth defendant: Fahad bin Ibrahim Alabdullah Alamro:

1. Imposing a fine of (SR. 50,000) fifty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 223,461.80) two hundred and twenty three thousand four hundred and sixty one Saudi Riyals and eighty Halalas, for the illegal gains achieved on his investment portfolio.  
3. Banning him from trading by purchasing shares of companies listed on the Exchange for his own account or as agent of others for a period of three months.

Sixth defendant: Fawaz bin Abdulaziz bin Jam'an Alghamdi:

1. Imposing a fine of (SR. 30,000) thirty thousand Saudi Riyals.
2. Banning him from trading by purchasing shares of companies listed on the Exchange for his own account or as agent of others for a period of three months.

The decision also included obliging a number of investors to pay to the CMA account the amount of (SR. 222,212) two hundred and twenty two thousand two hundred and twelve Saudi Riyals, for the illegal gains achieved in their investment portfolios that resulted from the trading violations committed by the convicted persons; Fawaz bin Abdulaziz bin Jam'an Alghamdi, Khaled bin Abdullah bin Hamad Albulaihed and Fahad bin Ibrahim Alabdullah Alamro.

Furthermore, any person affected by these acts is entitled to file a compensation claim with the CRSD as per Article (57) of the Capital Market Law, provided that such claim is preceded by a complaint filed with the CMA on this regard, via the following link: (click here)

(To view the dates of trading and the securities in relation to the violations, click here)