‎Final court ruling acquits Al-Fakhera Chairman in commercial fraud trial 

Alfakhera for Men’s Tailoring Co. announced today, May 5, that a final court ruling was issued acquitting its chairman in a case filed against him at the Riyadh Criminal Court.

The case involved alleged violations of the Anti-Commercial Fraud Law.

In a statement released to Tadawul, the company confirmed receiving the final ruling, which upholds judgment No. (4630558314) issued by the Seventh Joint Circuit at Riyadh Criminal Court. The ruling concluded that there was “no evidence to convict the defendant, and the public prosecutor’s case is dismissed.”

According to data available on Argaam, Alfakhera announced last November that several cases had been filed against its chairman, including a commercial fraud case.

The Public Prosecution has requested the conviction of the chairman for granting discounts without first obtaining a license from the Ministry of Commerce.

However, the chairman completely denied the allegations against him, and the court ruled that the defendant was not guilty. It concluded that his actions constituted a promotional offer and that there was no evidence or document criminalizing such conduct.