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Saudi regulator refers investors to Public Prosecution over $346m in suspicious trading

The Capital Market Authority (CMA), announced today, Nov. 30, referring 22 investors to the Public Prosecution over suspicious trading in shares of Dar Al Arkan Real Estate Development Co., and making illicit gains of SAR 1.33 billion ($346.7 million).

The investors were suspected of violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations, the market regulator said in a statement. The claim was referred to the Committee for Resolution of Securities Disputes.

News source ~ Arab News