Saudi Arabia Could Seize $100 Billion From Suspects In ‘Anti-Corruption’ Sweep

Share:

Saudi Arabia is poised to confiscate up to $100 billion of allegedly ill-gotten assets from princes, former government ministers and billionaire investors who were arrested in a sweeping anti-corruption operation this month.

The suspects, which include the kingdom’s wealthiest royal and a former head of the national guard, will likely be offered settlements in lieu of standing trial, reports Bloomberg, citing Saudi government officials.

The settlement talks will focus on the amount of money the suspects have allegedly embezzled or otherwise acquired through corruption over a period of many years. While that amount is yet to be determined, authorities believe they will be able to seize between $50 and $100 billion from various bank and trading accounts.

The initiation of settlement negotiations is the latest phase in a government crackdown that has shaken the highest levels of Saudi society and added another element of uncertainty to an already unstable Mideast balance of power.

[contentcards url=”http://dailycaller.com/2017/11/18/saudi-arabia-could-seize-100-billion-from-suspects-in-anti-corruption-sweep/” target=”_blank”]
Share:
No Comments Yet

Leave a Reply

2021 © True Pundit. All rights reserved.