Ammon News - AMMONNEWS - The Anti-Corruption Commission Prosecutor General Hassan Mjalli Al Majali on Wednesday ordered the detention of four officials from Amwal Invest pending further investigation into a suspected corruption case.

The case involves around JD60 million, the Jordan News Agency, Petra, reported.

The detainees are Amwal Chairperson Fayez Faouri and his predecessor Osama Khater, CEO Mutasem Faouri and the company’s investment portfolio manager, Odeh Habash.

The ACC accuses the suspects of committing financial violations that caused shareholders to incur around JD60 million in losses.

According to local news reports, the current administration of the public shareholding company filed a case with the Amman Court of First Instance demanding the freezing of deals former officials were engaged in that allegedly cost the company millions.

In 2010, according to the company’s financial statements, the company posted JD28.7 million in losses, down from JD8.7 million profits in the previous year.


* Jordan Times