Saudi Arabia striking deals with those detained in anti-corruption purge

17.11.2017

Saudi authorities are striking agreements with some of those detained in an anti-corruption crackdown, asking them to hand over assets and cash in return for their freedom, sources familiar with the matter said.

The deals involve separating cash from assets like property and shares and looking at bank accounts to assess cash values, one of the sources told journalists.

One businessman had tens of millions of Saudi riyals withdrawn from his account after he signed. In another case, a former senior official consented to hand over ownership of four billion riyals worth of shares, the source said. 

The Saudi government earlier this week moved from freezing accounts to issuing instructions for “expropriation of unencumbered assets” or seizure of assets, said a second source familiar with the situation.

There was no immediate comment from the Saudi government on the deals.

Dozens of princes, senior officials and businessmen, including cabinet ministers and billionaires, have been detained in the inquiry at least partly aimed at strengthening the power of Crown Prince Mohammed bin Salman.    (Reuters)

Related articles on Qantara.de:

A house divided: How Saudi Crown Prince purged royal family rivals

Power play in Saudi Arabia: Charting a seismic shift

Reform in Saudi Arabia: Progress or megalomania?

In submitting this comment, the reader accepts the following terms and conditions: Qantara.de reserves the right to edit or delete comments or not to publish them. This applies in particular to defamatory, racist, personal, or irrelevant comments or comments written in dialects or languages other than English. Comments submitted by readers using fantasy names or intentionally false names will not be published. Qantara.de will not provide information on the telephone. Readers' comments can be found by Google and other search engines.