A Houthi court seizes the funds of personalities who run one of the largest banks in the capital, Sana’a

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Activists on social media circulated a memorandum issued by the Public Funds Appeal Prosecution in the Sana’a Secretariat, addressed to the Central Bank of Yemen, with a precautionary seizure of the funds of the chairman and members of the Board of Directors of Yemen Gulf Bank.

The memorandum issued on 10/5/2021 stated that, after reviewing the attachments to the application, which indicated that those mentioned in the memorandum had committed financial and administrative violations that led to the weakness of the bank’s financial position and damage to the funds of depositors and shareholders.

The memorandum stipulated the precautionary seizure of the movable and immovable funds owned by the aforementioned persons, such as cash, vehicles, shares, bonds, real estate, and the like, and the prohibition of disposing of them except by an order from the Public Funds Prosecution.

The Houthi militia deliberately used the courts under its control to rob the funds of shareholders in commercial banks.



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