Saudi anti-corruption crackdown recovers $107 billion in assets

Saudi Arabia's King Salman has received a report from a special committee investigating public corruption, which will see billions of riyals recovered. (SPA/File photo)
Updated 31 January 2019
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Saudi anti-corruption crackdown recovers $107 billion in assets

  • More than SR400 billion ($107bn) was “retrieved to the state treasury"
  • Settlements were reached with 87 of those accused after they confessed

RIYADH: Saudi investigators have recovered assets worth more than $106 billion in an anti-corruption crackdown ordered by Crown Prince Mohammed bin Salman, the royal court said on Wednesday.

The funds are in the form of property, companies, cash and other assets surrendered by  senior princes, ministers and top businessmen who were under investigation.

In the anti-corruption campaign launched in November 2017, many of the Kingdom’s economic and political elite were detained in Riyadh’s Ritz-Carlton Hotel for nearly three months.

The government summoned 381 people, although some appeared only as witnesses to give evidence. 

A comprehensive review was conducted of the case against each of those detained, under the supervision of the Public Prosecutor, and each was presented with the allegations against them.

Settlements were reached with 87 people who confessed to the charges against them, the royal court said. 

The public prosecutor refused to settle the cases of 56 people because of existing criminal charges against them. Eight people refused to reach a settlement, and have been referred to public prosecution for further action under the law.

Everyone who was detained but not indicted on charges related to corruption has been released, the court said.

The anti-corruption committee set up by the crown prince submitted its report to King Salman on Wednesday. It said it had now completed its work, and asked for the king’s permission to cease operations.

The king agreed, and thanked the committee and the crown prince for their efforts.

King Salman pledged that the Kingdom would “continue its efforts to preserve integrity, combat corruption, and empower law enforcement and other relevant state bodies so that they are able to effectively practice their role in preserving public funds.”


Saudi ambassador to China: royal visit reflects friendly relations

Updated 21 February 2019
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Saudi ambassador to China: royal visit reflects friendly relations

  • The Crown Prince will head the Saudi side during the meetings
  • The states will sign agreements in fields of energy, transport, investment and technology

DUBAI: The Saudi Crown Prince’s visit to China reflects the depth of relations and strategic partnerships between the two countries in various fields, Saudi ambassador to the country said.

The Chinese leadership welcomed the Crown Prince on Thursday, ahead of meetings of the joint committee in Beijing, Turki bin Mohammed Al-Mady added.

Agreements and memorandums of understanding will be signed in the energy, investment, transport and technology sectors during the meeting, the ambassador said.