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) final decision No. (2165/L.S/2021) of 1442 H., dated 27/07/1442 H., corresponding to 11/03/2021 G., in the case filed by the Public Prosecution (referred to by the Capital Market Authority (CMA)) against: Laila bint Abdullah bin Omar Alsadhan, Muhamad bin Abdulhakim bin Muhamad bin Mu'amar, Abdulaziz bin Abdulhakim bin Muhamad bin Mu'amar, Turki bin Rashid bin Awad bin Muhamad Eid Al'abiri, Rashid bin Awad bin Muhamad Eid Al'abiri, Abdullah bin Sami bin Abdullah Alfadda, Imad bin Amer bin Ahmad Alghamdi, Abdulrahman bin Mustafa bin Muhamad Zaitouni, Insaf bint Muhamad bin Ali Alhawali Alghamdi, Abdullah bin Muhamad bin Abdullah Alothman, Eisha bint Saleh bin Muhamad bin Saleh Sinnari, Hussam bin Makhdhoor bin Awish Almehmadi, Asma bint Muhamad bin Abdullah Almaliki, and Khamis bin Yahya bin Hassan Omar.

The decision concluded with the conviction of the abovementioned individuals for violating Article (49) of the Capital Market Law, as well as Article (2) of the Market Conduct Regulations, when trading the shares of the following companies: Alinma Tokio Marine Co., SABB Takaful Co., National Gypsum Co., Aljazira Takaful Taawuni Co., Middle East Paper Co., and Takween Advanced Industries Co.

The violations were committed during the period between 15/06/2015 G. until 20/10/2016 G. Such acts and practices constituted manipulation and fraud, and created a false and misleading impression regarding the security of the abovementioned companies.

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

1. Laila bint Abdullah bin Omar Alsadhan:

1. Imposing a fine upon her amounting to (SR. 50,000) fifty thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 119,389.93) one hundred nineteen thousand three hundred eighty-nine Saudi Riyals and ninety-three Halalas, against the illegal gains achieved in her two investment portfolios.
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 One year, except trading through investment funds at Authorised Persons.

1. Abdullah bin Muhamad bin Abdullah Alothman:

1. Imposing a fine upon him amounting to (SR. 315,000) three hundred fifteen thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 122,861.01) one hundred twenty-two thousand eight hundred sixty-one Saudi Riyals and one Halalas, against the illegal gains achieved in his two investment portfolios.
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 Two year, except trading through investment funds at Authorised Persons.
4. Banning him from managing portfolios for a period of Two year.

1. Muhamad bin Abdulhakim bin Muhamad bin Mu'amar:

1. Imposing a fine upon him amounting to (SR. 220,000) two hundred twenty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 2,444,837.80) two million four hundred forty-four thousand eight hundred thirty-seven Saudi Riyals and eighty Halalas, against the illegal gains achieved in 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 One year, except trading through investment funds at Authorised Persons.

1. Abdullah bin Sami bin Abdullah Alfadda:

1. Imposing a fine upon him amounting to (SR. 420,000) four hundred twenty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 383,949.03) three hundred eighty-three thousand nine hundred forty-nine Saudi Riyals and three Halalas, against the illegal gains achieved in his investment portfolio.
3. Obliging him to pay to the CMA account the amount of (SR. 854,678.19) eight hundred fifty-four thousand six hundred seventy-eight Saudi Riyals and nineteen Halalas, against the illegal gains achieved in the investment portfolio he managed.
4. 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 One year, except trading through investment funds at Authorised Persons.
5. Banning him from managing portfolios for a period of One year.

1. Asma bint Muhamad bin Abdullah Almaliki:

1. Imposing a fine upon her amounting to (SR. 100,000) one hundred thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 487,721.70) four hundred eighty-seven thousand seven hundred twenty-one Saudi Riyals and seventy Halalas, against the illegal gains achieved in her two investment portfolios.
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 One year, except trading through investment funds at Authorised Persons.

1. Rashid bin Awad bin Muhamad Eid Al'abiri:

1. Imposing a fine upon him amounting to (SR. 60,000) sixty 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 One year, except trading through investment funds at Authorised Persons.

1. Eisha bint Saleh bin Muhamad bin Saleh Sinnari:

1. Imposing a fine upon her amounting to (SR. 40,000) forty thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 90,155.70) ninety thousand one hundred fifty-five Saudi Riyals and seventy Halalas, against the illegal gains achieved in her two investment portfolios.
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 One year, except trading through investment funds at Authorised Persons.

1. Hussam bin Makhdhoor bin Awish Almehmadi:

1. Imposing a fine upon him amounting to (SR. 400,000) four hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 1,751,427.29) one million seven hundred fifty-one thousand four hundred twenty-seven Saudi Riyals and twenty-nine Halalas, against the illegal gains achieved in 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 One year, except trading through investment funds at Authorised Persons.

1. Turki bin Rashid bin Awad bin Muhamad Eid Al'abiri:

1. Imposing a fine upon him amounting to (SR. 40,000) forty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 90,949.49) ninety thousand nine hundred forty-nine Saudi Riyals and forty-nine Halalas, against the illegal gains achieved in 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 One year, except trading through investment funds at Authorised Persons.

1. Imad bin Amer bin Ahmad Alghamdi:

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. 55,491.70) fifty-five thousand four hundred ninety-one Saudi Riyals and seventy Halalas, against the illegal gains achieved in 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 One year, except trading through investment funds at Authorised Persons.

1. : Insaf bint Muhamad bin Ali Alhawali Alghamdi:

1. Imposing a fine upon her amounting to (SR. 40,000) forty thousand Saudi Riyals.
2. Obliging her to pay to the CMA account the amount of (SR. 88,136.35) eighty-eight thousand one hundred thirty-six Saudi Riyals and thirty-five Halalas, against the illegal gains achieved in her two investment portfolios.
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 One year, except trading through investment funds at Authorised Persons.

1. Khamis bin Yahya bin Hassan Omar:

1. Imposing a fine upon him amounting to (SR. 40,000) forty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 79,758.06) seventy-nine thousand seven hundred fifty-eight Saudi Riyals and six Halalas, against the illegal gains achieved in 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 One year, except trading through investment funds at Authorised Persons.

1. Abdulaziz bin Abdulhakim bin Muhamad bin Mu'amar:

1. Imposing a fine upon him amounting to (SR. 100,000) one hundred thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 57,886.72) fifty-seven thousand eight hundred eighty-six Saudi Riyals and seventy-two Halalas, against the illegal gains achieved in 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 One year, except trading through investment funds at Authorised Persons.

1. Abdulrahman bin Mustafa bin Muhamad Zaitouni:

1. Imposing a fine upon him amounting to (SR. 80,000) eighty thousand Saudi Riyals.
2. Obliging him to pay to the CMA account the amount of (SR. 156,367.15) one hundred fifty-six thousand three hundred sixty-seven Saudi Riyals and fifteen Halalas, against the illegal gains achieved in the investment portfolio he managed.
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 One year, except trading through investment funds at Authorised Persons.
4. Banning him from managing portfolios for a period of One year.

The decision also included obliging a number of investors to pay to the CMA account an amount of (SR. 9,154,067.78) nine million one hundred fifty-four thousand sixty-seven Saudi Riyals and seventy-eight Halalas, against the illegal gains achieved in their investment portfolios as a result of violations committed by the convicted persons: Abdullah bin Sami bin Abdullah Alfadda, Hussam bin Makhdhoor bin Awish Almehmadi and Abdullah bin Muhamad bin Abdullah Alothman.

Furthermore, any person affected by these acts is entitled to file a compensation claim with the CRSD, pursuant to Article (57) of the Capital Market Law, provided that such claim is preceded by a complaint filed with the CMA on this regard. To file the complaint: (File Complaint Link)

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