Saudi crown prince boasts he has Trump’s backing to torture princes and seize their wealth as he sends billionaire Twitter owner to prison in ’anti-corruption’ probe

'Prince Alwaleed owns a lot of properties in Morocco, in Casablanca, and a lot of bank accounts loaded with cash,' said the source, adding: 'But retrieving those assets is proving a little more difficult.'

MBS said last month week that '95 percent' of the suspects charged with corruption have agreed to a settlement.

'We show them all the files that we have and as soon as they see those about 95 percent agree to a settlement,' MBS told the New York Times.

'About one percent are able to prove they are clean and their case is dropped right there. About four percent say they are not corrupt and with their lawyers want to go to court.'

MBS added that his public prosecutor suggested it could eventually 'be around $100 billion in settlements.'

One of the other detainees still being held is Prince Turki bin Abdullah, who had been deputy governor of Riyadh province in the past and also alleged to have gifted a Malaysian prime minister, Najib Razak, $700 million in a part of a massive corruption scandal.

And Osama bin Laden's half-brother, Bakr bin Laden, was also among those held. He is the head of the family construction firm, which is spelled Binladin.

His personal net worth was estimated at $7 billion. The Financial Times reported that some of the family firm's shares had been transferred to the Saudi government, with people close to the family saying that Bakr bin Laden and his brothers had reached a settlement with the authorities.

Some of the seized funds from the arrested princes and billionaires may be used to underwrite NEOM, the Crown Prince's planned $500 billion high-tech metropolis.

Proceeds may also go towards servicing the Kingdom's $79 billion budget deficit, which has grown from a fall in oil prices and subsequent recession in the country.

tag: international-news , business

Source: qatarday

 

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