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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (70281)	4/18/2001 3:33:13 PM
From: StockDung	Respond to of 122087

Saudi businessman jailed in Egypt for bank fraud CAIRO, April 18 (Reuters) - A Cairo court sentenced a Saudi Arabian businessman to three years in prison on Wednesday for cheating a bank of more than $3 million, court sources said. The appeals court overturned a ruling by a lower court that had acquitted Mu'tasim al-Mu'taz Billah Khashoggi of defrauding Citibank <C.N>. Prosecutors had appealed against the original verdict. Khashoggi had opened an account at Citibank with a $20 million cheque drawn on Bank of America <BAC.N>. While it was being cleared, CitiBank let him transfer $3 million to an account he held at another bank and withdraw $30,000 in cash. The cheque he had used to open the account then bounced. Citibank has since recovered almost all its money. The bank had allowed him to make the transactions based on faith in the good name of the prominent Saudi business family to which he belonged, the sources said. 14:13 04-18-01