Weqaya board members, executives fined, convicted of fraud

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Thu, 2021-01-07 20:33

RIYADH: The Saudi Capital Market Authority (CMA) announced that the Appeal Committee for the Resolution of Securities Disputes decided to convict some board members and executives of Weqaya Takaful Insurance and Reinsurance Co. of manipulation, fraud and scamming of capital market rules.

According to the ruling, those board members and executives intentionally participated in acts and practices that created a false and misleading impression of the company’s securities.

Saudi Capital Market Authority (CMA) announced that the Appeal Committee for the Resolution of Securities Disputes decided to convict some board members and executives of Weqaya Takaful Insurance and Reinsurance Co. (Argaam)
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