Former Saudi telecom official fined for insider trading

31 May 2010

Saudi Arabia's Capital Market Authority has ordered a former board member of state-controlled Saudi Telecom to pay almost $2m in fines and profit for insider trading in 2004, Reuters has reported. The ruling against former Saudi Telecom board member Saleh bin Mohammed bin Saleh al-Hajjaj was delivered by an appeals panel which found him guilty of insider trading in December 2004, CMA said.

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