By Craig Tarasoff
Bloomberg
reports that the United States has filed a lawsuit against the Saudi Arabia
Business Association (SABA), alleging conspiracy to defraud the Export-Import
Bank and Deutsche Bank AG in a $38 million loan deal on which SABA defaulted.
The loans were connected to construction projects of a retirement community,
concert hall, movie and theater complex in Istanbul and Urla, Turkey. The case
is U.S. v. Besneli, 14-cv-7339, filed in the District Court for the Southern
District of New York.
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