Hazem Khalid Al-Braikan, CEO of Kuwait's Al Raya Investment, which is 10 percent owned by New York-based Citigroup Inc., was found shot dead Sunday, according to a senior security official.
Earlier this month, the Securities and Exchange Commission (SEC) sued Al-Braikan in a US District Court in Manhattan over suspicious trading profits earned by fake offers to acquire US companies. According to US regulators, the case involved questionable offers from International Industries Inc. and Textron Inc. The SEC said it planned to freeze more than $5 million in trading profits under his name and three companies associated with him. Al-Braikan denied any violations.
The death of 37-year-old Al-Braikan came a day after his company denied breaching US laws. Officials said Al-Braikan likely committed suicide, though the investigation into his death has not concluded.
