Published: Wed, March 14, 2018

Saudi royals tackling corruption, or just cashing in on foes?

Saudi royals tackling corruption, or just cashing in on foes?

Despite assurances that all is going well, now the company's CEO has said that Aramco is not in fact ready with the documentation, contrary to earlier remarks from Saudi officials that all preparatory work has been done and the one thing left is the final decision.

Numerous detainees have been released so far after forking out exorbitant amounts reaching as high as one billion dollars.

Various analyses of the crackdown viewed it as a necessary step for Saudi Arabia to streamline its famously inefficient government, a desperate clawback of resources appropriated by self-indulgent members of the huge royal family, a vital step in persuading worldwide investors to put money into a dramatically reformed economy, a bid by the crown prince to weaken his rivals before he assumes the throne, or all of the above.

The government said it raised more than $100 billion from financial settlements made with the detainees in exchange for their freedom. For comparison, on last year's list there were 10 Saudi Arabian billionaires.

The initial public offering is the centrepiece of Crown Prince Mohammed bin Salman's plan to diversify the Saudi economy beyond oil and it would also boost the kingdom's budget which has been hit by low oil prices.

Prior to the game, Saudi Arabia's King Salman promised to build Iraq a stadium if they won on February 28.

Meanwhile, fresh revelations show that prisoners caught up in the campaign were mistreated.


Prominent Saudis held in what Riyadh dubbed an anti-corruption campaign were subjected to coercion and physical abuse, the New York Times reported today, describing fear and uncertainty even after their release.

According to the newspaper, the 17 detainees were hospitalised after facing abuse, while one Saudi general died in custody.

A doctor and two other people briefed on the condition of the body said that it had burn marks that appeared to be from electric shocks.

To leave the Ritz, numerous detainees not only surrendered huge sums of money, but also signed over to the government control of precious real estate and shares of their companies - all outside any clear legal process.

General Qahtani was a top aide to Prince Turki bin Abdullah, a son of the late King Abdullah and a former governor of Riyadh.

Numerous 381 suspects, including princes, ministers and tycoons, remain under military surveillance and some have been forced to wear ankle bracelets that track their movements, the newspaper said.

Their wives and children have reportedly been prevented from travelling.

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