Court House News: “A real estate company claims that an alleged member of the Saudi royal family failed to honor a $94.9 million property purchase agreement and defrauded investors in a check-kiting scheme – and that some of the money may have been used ‘for activities hostile to the United States’. Foundations Investment Group claims that Sultan Alshaie and Royal Holdings produced false government documents to promote themselves as ‘international business investors’ who operated in prominent business circles. Foundations aka FIG Global claims in Maricopa County Court that one of the Alshaies’ false documents was a bank statement showing nearly $220 million in the account. . . . Also named as defendants are Nassir Alshaie, Ahmed Alshaie, the Alshaie Family Trust, Bernard Otremba-Blanc, Royal Holdings LLC and Royal Energy LLC.”
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