Maan Abdul Wahed Al-Sanea (born 1955,

Khobar Khobar ( ar, ٱلْخُبَر, translit=al-Khobar) is a city and governorate in the Eastern Province of the Kingdom of Saudi Arabia, situated on the coast of the Persian Gulf. With a population of 457,748 as of 2017, Khobar is part of the 'Triple ...

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...

) is a Saudi businessman of

Kuwait Kuwait (; ar, الكويت ', or ), officially the State of Kuwait ( ar, دولة الكويت '), is a country in Western Asia. It is situated in the northern edge of Eastern Arabia at the tip of the Persian Gulf, bordering Iraq to the nort ...

i origin. In 1980, he founded the Saad Group, a

conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** Co ...

with operations in construction & engineering,

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels ...

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

and investments. He has also founded a private hospital, several educational facilities and a support center for special-needs children and their families. It is alleged that he funded all this by defrauding his wife's family, the Al Gosaibis. Al-Sanea’s family investment company, Saad Investments Co. Ltd. collapsed in 2009 and remains involved in a lengthy liquidation process, including the case ''

Singularis Holdings Limited (in liquidation) v Daiwa Capital Markets Europe Limited is a judicial decision of Supreme Court of the United Kingdom relating to the duties owed by a bank where a person acting on behalf of a corporate customer of the bank directs the bank to transfer money out of the company's account as part of ...

''. In October, 2017, he was arrested in his home in

.In Saudi Arabia, an Arrest in a Billion-Dollar Bank Bust
Nicholas Schmidle, November 7, 2017,

The New Yorker ''The New Yorker'' is an American weekly magazine featuring journalism, commentary, criticism, essays, fiction, satire, cartoons, and poetry. Founded as a weekly in 1925, the magazine is published 47 times annually, with five of these issues ...

References

{{DEFAULTSORT:Sanea, Maan Al- 20th-century Saudi Arabian businesspeople 21st-century Saudi Arabian businesspeople 1955 births Living people Saudi Arabian billionaires Saudi Arabian prisoners and detainees People from Khobar