Saudi government expects to seize more than $100bn in corruption crack-down

31 Jan 18

Saudi Arabia has said the government will seize more than $100bn through its corruption crack-down, with more than 50 royals and businessmen arrested.

The announcement was made by the attorney general Sheikh Saud al-Mojeb on Tuesday, claiming it as a victory for crown prince Mohammed bin Salman, who launched the anti-corruption efforts last year.

The money recouped by the kingdom represented various types of assets, including real estate, commercial entities, cash and other assets, Mojeb said in a statement.

He added that a total of 381 individuals had been questioned, with 65 remaining in custody, at the Ritz Carlton hotel in Riyadh where their personal finances were examined.

It is believed that up to 57 high-profile royal family members and businessmen who refused to surrender their wealth have been arrested, the country said.

The kingdom’s United Nation ambassador said royals, ministers and businessmen detained as part of the anti-corruption purge would get due process of law.

He said in November: “I can assure you there will be due process for anybody who is detained.”

Saudi Arabia’s government unveiled its 2018 budget in December, which it is hoping will boost spending to record levels in the country and drag the economy out of recession. 

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