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MONDAY, OCTOBER 15, 2001

A free-wheeling, wealthy Saudi Arabian's attempt to open a marketing firm has apparently caused the temporary death of Native Nations. No, it's not Osama bin Laden but Adnan Khashoggi, who has been described as an "international playboy" and an arms dealer.

Owned by former actress Valerie Red-Horse, Native Nations was involved in an illegal stock-loan transaction of a business owned by Khashoggi. But Native Nations did not make the transaction, it was performed by a company the firm had already purchased.

The shares were of a company called Genesisintermedia. Due to unusual trading, Khashoggi is now being investigated by the Securities and Exchange Commission.

Native Nations is seeking to undo the merger with Freeman Securities. An employee of Freeman apparnetly made the illegal deal.

Get the Story:
Adnan Khashoggi: He's Back and the Fur is Flying: A US marketing company linked to Adnan Khashoggi is under investigation (The London Independent 10/14)
Native Nations Seeks Freeman Split On Stock Loan Fiasco (Dow Jones Newswires 10/15)

Related Stories:
Native Nations grounded after own attack (9/28)
Native firm ready to re-open after attacks (9/19)
First Native investment bank launched (1/11)