The Al-Thani clan’s black sheep is in trouble again. Sheik Saud Bin Mohammed Bin Ali Al-Thani was arrested in 2005 for suspicion of misusing public funds. Now he faces a slew of lawsuits related to unpaid auction purchases, according to Bloomberg:
Al-Thani has been hit with two lawsuits since the end of September, one of which alleges the sheik failed to pay for $19.8 million of ancient Greek coins that he bid on in January. A U.K. court, in a judgment today extending a freeze on $15 million of the sheik’s assets at the request of the coin dealers, said Al-Thani appears to have left at least 11 auction houses and dealers unpaid in the last 18 months, including $42 million owed to Sotheby’s. […] Less than two weeks before the U.S. lawsuit, London auction house Bonhams 1793 Ltd. filed a suit against Al-Thani and a colleague in the U.K. High Court of Justice. The suit, while listed on the court’s docket, is not yet publicly available and Julian Rupe, a spokesman for Bonhams, declined to comment. Al- Thani owes Bonhams 4.3 million pounds ($6.85 million) plus interest on unpaid auction debt, according to today’s judgment.
Qatari Sheik Pledges Most Expensive Watch to Sotheby’s (Bloomberg)
