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| June 15, 2009 | |
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Saudis awarded $5.8m in suit
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| By Selina Lum | |
| A COURT here has ruled that the companies of two ultra-rich Saudis duped by an American expatriate into investing in his telecommunications firm will get back their investment in full.
The Saudis will also get back at least US$4 million (S$5.8 million)in interest on top of their capital of US$13.4 million. The High Court decision last Tuesday came four years after the Saudis sued Mr Lane Pendleton and his investment firm Newfirst to recoup their money. Read the full story in Tuesday's edition of The Straits Times. s | |
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