Saudi Arabia recovers $107 billion from corruption suspects
 Source : NewsBharati  Date : 03-Feb-2018

Riyadh, February 3: The authorities of Saudi Arabia have recovered more than $107 billion from kingdom's most prominent businessmen and government officials who were arrested in a crackdown into alleged corruption.

 

Notably, Saudi Arabia's Attorney General Sheikh Saud Al Mojeb in a statement said that the authorities have already recovered more than 400 billion riyals or $107 billion from kingdom's most prominent businessmen and government officials who were arrested in a crackdown into alleged corruption including in the 2009 Jeddah floods and the Middle East Respiratory Syndrome (MERS) virus case.

Sheikh Saud Al Mojeb further said that the authorities are now winding down the probe that began on November 4 last year when authorities arrested 200-or-so powerful individuals in 2009 Jeddah floods and the Middle East Respiratory Syndrome (MERS) virus corruption cases.

Sheikh Saud said 381 people had been subpoenaed in total. Some were released because officials were unable to provide sufficient evidence to support the allegations against them, while others were freed after admitting to corruption allegations and settling with the government. The attorney general also added that 56 people are still in custody.

Earlier, in the last month, Saudi Arabian authorities released Prince Alwaleed bin Talal after reaching tp a deal with government. Alwaleed, the billionaire chairman of Riyadh's Kingdom Holding Co. who owns stakes in Citigroup Inc. and Twitter Inc., returned home on Saturday after reaching a settlement with authorities. The prince's release came just hours after Alwaleed in an interview said that he expected to go home soon and retain control of his company, calling his detention a "misunderstanding" and expressing support for the kingdom's rulers.

Importantly, the authorities arrested 11 princes, 4 ministers and a number of former government ministers as it was re-examining the 2009 Jeddah floods and investigating the Middle East Respiratory Syndrome (MERS) virus, which emerged in Saudi Arabia in 2012.

Earlier, Saudi Arabia freed 23 of the 200-or-so powerful individuals including Prince Miteb bin Abdullah who once seen as a contender to the throne was also released on November 29 of last year after they agreed to pay settlement amount.

BACKGROUND:

Saudi authorities taking a huge step to eradicate the corruption in Kingdom arrested 11 princes, 4 ministers and a number of former government ministers as it is re-examining the corruption involved in 2009 Jeddah floods and investigating the Middle East Respiratory Syndrome (MERS) virus, which emerged in Saudi Arabia in 2012.

Saudi Arabia’s newly made anti-corruption committee is headed by the Crown Prince Mohammed bin Salman. However, the analysts said the goal of the purge went beyond corruption and aimed to remove potential opposition to Prince Mohammed as he pushes an ambitious and controversial reform agenda.