• Home
  • Saudi anti-corruption probe finds ‘$100bn was embezzled’

Saudi anti-corruption probe finds ‘$100bn was embezzled’

Saudi Arabia’s attorney general says at least $100bn (£76bn) has been misused through systemic corruption and embezzlement in recent decades.

Sheikh Saud al-Mojeb said 199 people were being held for questioning as part of a sweeping anti-corruption drive that began on Saturday night.

He did not name any of them, but they reportedly include senior princes, ministers and influential businessmen.

“The evidence for this wrongdoing is very strong,” Sheikh Mojeb said.

He also stressed that normal commercial activity in the kingdom had not been affected by the crackdown, and that only personal bank accounts had been frozen.

Sheikh Saud al-Mojeb said investigations by the supreme anti-corruption committee, which was formed by royal decree and is headed by 32-year-old Crown Prince Mohammed Bin Salman, were “progressing very quickly”.

He announced that 208 individuals had been called in for questioning so far, and that seven of them had been released without charge.

“The potential scale of corrupt practices which have been uncovered is very large,” the attorney general said.

“Based on our investigations over the past three years, we estimate that at least $100bn has been misused through systematic corruption and embezzlement over several decades.”

See Full Article on BBC, November 9, 2017.

Perspectives: Turkey-Gulf Relations in Erdoğan’s Next Term

May 30, 2023

Turkey and Saudi Arabia: A “Manageable Competition” Sinem Cengiz Non-Resident Fellow, Gulf International Forum; Research Assistant, Gulf Studies Center of Qatar University Turkish-Saudi relations are…

The Saudi-Iranian Rapprochement Shapes Azerbaijan’s Balancing Act

May 29, 2023

Numerous geopolitical, economic, and security factors have influenced Azerbaijan’s foreign policy decisions throughout the country’s modern history. Like other nations, Azerbaijan aspires to uphold its…

China’s Yemen Diplomacy and a Multipolar Gulf

May 19, 2023

Since it first emerged as an economic powerhouse in the 1990s and early 2000s, China has consistently adhered to the principle of neutrality and non-interference…

Subscribe to Receive Latest Updates from GIF.