Wednesday, July 18, 2018
   
Text Size

Site Search powered by Ajax

Saudi Arabia seizes more than $100bn in settlements

'Anti-corruption purge' detainees released, Saudi attorney general says as various assets secured by government.

Saudi Arabia's Attorney General Sheikh Saud al-Mojeb said that the kingdom has seized more than $100bn in anti-corruption settlements.

The amount - SAR400bn ($106.7bn) - represented various types of assets, including real estate, commercial entities, cash and more, Mojeb said in a statement released by the government's information office on Tuesday.

He added that the total number of individuals summoned for questioning reached 381, while 65 remained in custody as part of a nationwide "anti-corruption purge".

The statement came as Saudi authorities released all remaining detainees from the Ritz-Carlton hotel, after more than two months of detention on allegations of corruption.

"There are no longer any detainees left at the Ritz-Carlton," a Saudi official told Reuters News Agency earlier on Tuesday.

Dozens of royal family members, ministers, and top businessmen were arrested in early November during an "anti-corruption crackdown" launched by Crown Prince Mohammed bin Salman. Allegations against those detained included money laundering, bribery, extorting officials.

Those arrested were held collectively in the country's Ritz-Carton hotel. Meanwhile, the hotel was closed to normal business.

On Saturday, prominent Saudi businessman Prince Alwaleed bin Talal was released as signs of the purge appeared to be winding down. Prince Alwaleed said during an exclusive Reuters interview that there were "no charges" against him.

The crackdown, which came about via a royal decree in November 2017, was in response to "exploitation by some of the weak souls who have put their own interests above the public interest, in order to illicitly accrue money".

Consolidating power?

Mahjoob Zweiri, a Doha-based professor of contemporary Arab politics, said that the purge is part of Mohammed bin Salman's plan to consolidate economic, as well as political power in Saudi Arabia.

"That required destroying other economic empires in Saudi Arabia," he said.

Zweiri noted that the nature of charges against those who were detained remains unclear, and that there may be more details of cases revealed - but not in the near future.

"There has been a case of mistrust," he said. "And the authorities will follow up [with those released] to make sure no one is speaking about what happened to maintain the government's narrative of the story."

According to Zweiri, the purge was a warning message, and only those who play the "politics" and maintain links to the monarch, will be able to conduct business activities in the kingdom.

"Again it's about how well linked you are to the new establishment. There is no accountability … the corruption will of course continue - but in different ways".


blog comments powered by Disqus

Subscribe via RSS or Email:

Israeli army turns away displaced S...

Read More

'Collective punishment': Israel blo...

Read More

Iraqi forces use batons and rubber ...

Read More

Amnesty: US-led coalition in denial...

Read More

Syrian government seizes strategic ...

Read More

Iraq: Deadly Basra protests spread ...

Read More

Donation

Thanks to all of our supporters for your generosity and your encouragement of an independent press!

Enter Amount:

Global_News

US president also says Russia has agreed to help with North Korea's pledge to dismantle its nuclear weapons programme.

Read More

Featured_Author

Login






Login reminder Forgot login?

Subscribe to MWC News Alert

Email Address

Subscribe in a reader Facebok page Twitter page

Israel pounds Gaza

Thailand cave boys

2018 World Cup