JUNE 17, 2013; WASHINGTON D.C.: SMI Hyundai Corporation Ltd., a company operating out of Fairfax County Virginia, has filed a complaint against Prince Khaled bin Al-Waleed bin Talal bin Abdul Aziz Al Saud, and his associate Mr. Massimiliano Pincione from New York. SMI Hyundai Corporation alleges that Prince Khaled and Pincione, who after being contracted by SMI Hyundai to assist in the collection of money owed to SMI Hyundai for work performed in the Nation of Libya, conspired and schemed to defraud, and then diverted approximately $17.8 million dollars of SMI Hyundai’s money by forging numerous documents and then misdirecting SMI Hyundai’s funds for Khaled’s and Pincione’s mutual benefit and enrichment. Prince Khaled and Pincione secured the $17.8 million owed to SMI Hyundai, then forged a document authorizing them to collect $15 million of the $17.8 million. In order to bolster their claim for the $15 million commission instead of the $4.6 million dollar commission which they were due under the Agreement with SMI Hyundai, Prince Khaled and Pincione created two more fraudulent documents in which the signature of SMI Hyundai’s President was forged.
Prince Khaled is the son of HRH Prince Al-Waleed bin Talal bin Abdul Aziz Al Saud, who is the founder, CEO, and 95%-owner of Kingdom Holding Company. Prince Al Waleed is one of the largest shareholders in Citigroup, the second-largest voting shareholder in News Corporation after the Murdoch family, and holds major stakes in dozens of other Western companies. Arabian Business ranked him as the most influential Arab in the world, and in March 2013, Forbes listed Al Waleed as the 26th-richest man in the world, with an estimated net worth of US $20 Billion. Pincione claims to be a partner with Prince Khaled in the Levant Group, based out of Dubai and New York: 212-752-0001; [email protected]. Prince Khaled is also affiliated with his Father’s Kingdom Holdings Company: 966 11 211 1111; media&[email protected]. SMI Hyundai is represented by Mr. Jim Tate of the law firm of Tate, Bywater & Fuller, (703) 938-5100; [email protected]. -- -- Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. --- You received this message because you are subscribed to the Google Groups "PoliticalForum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/groups/opt_out.
