A judge blames all parties in the Gulf’s biggest-ever corporate scandal

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THE glitzy Gulf states take pride in superlatives. They have the world’s tallest building, the biggest shopping mall, even (for a time) the most expensive cocktail. To that list, add a slightly less glamorous entry: what a judge has called one of the largest Ponzi schemes in history. On June 1st a court in the Cayman Islands issued a verdict in the long-running saga of Ahmad Hamad Algosaibi & Brothers Company (AHAB), a conglomerate. When the Saudi company defaulted in...

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