The Capital Market Authority (CMA) announced penalties imposed on three employees of a company for the violation of various provisions of the Capital Market Law. The penalties include SR 3.95 million in fines imposed on 3 employees and six-month jail for one of them. The Appeal Committee for the Resolution of Securities Disputes (ACRSD) under CMA convicted three employees of Abdullah A. M. Al-Khodari Sons Co. for violating various provisions of the Capital Market Law and the Companies Law. According to the ACRSD, the final decision was issued convicting Sohail Sa"eed Mohammed Sa"eed, director of the Financial Department at the company, Kailash Nath Sadangi, Chief Financial Officer of the company, and Fawaz bin Abdullah bin Abdulmohsen Alkhodari, Chief Executive Officer of the Company, for violating Article 49/a of the Capital Market Law, and Article 7 of the Market Conduct Regulations, for performing acts that inflated the revenues of four construction projects in the company"s financial statements during the period from the fiscal year ending on December 31, 2010 until the fiscal year ending on December 31, 2017. It was found that the costs used in calculating the percentage of project completion differed from the actual costs registered in the company"s records. The ACRSD"s final decision also included the conviction of Fawaz bin Abdullah bin Abdulmohsen Alkhudari, Chief Executive Officer of the Company, for violating Article 211/a of the Companies Law for the failure to prove the losses related to six construction projects withdrawn from the company in the financial statements of the fiscal year ending on December 31, 2017, with the intent of concealing the company"s financial position, in violation of the International Financial Reporting Standard and the International Accounting Standard. Fawaz bin Abdullah bin Abdulmohsen Alkhudari was sentenced to six months in prison and fined twice: SR3.25 million for violating the Companies Law and SR 400000 for violating the Capital Market Law and its implementing regulations. Additionally, Sohail Sa"eed Mohammed Sa"eed was fined SR 100000, and Kailash Nath Sadangi was fined SR 200000. All three convicted individuals were banned from working in companies whose shares are traded in the Saudi Exchange for a period of three years.