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Riyadh: The Riyadh Commercial Court on Thursday forced the former general manager of an insurance company to pay 152.7 million riyals to the company.
In detail, the Mediterranean and Gulf Cooperative Insurance and Reinsurance Corporation (Medgulf) revealed that the 8th of September had been fixed on the day of delivery of the copy of the notification of the decision to the court.
He also said in a statement that the convict could appeal the judgment within 30 days, stating that the judgment would have no financial impact on the company at the moment.
This occurred after the company filed a lawsuit in November 2017 against the former civil servant, demanding the recovery of funds for the illegally obtained company.
It also claimed compensation for the losses resulting from its actions prejudicial to the company and its shareholders.
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