‘Settlement’ amount in Saudi action to cross 100 billion, claim senior officials

Riyadh: The Saudi government is likely to receive almost USD 100 billion in settlement amounts under the anti-corruption drive started by the Crown Prince Mohammad Bin Salman, informed a senior Saudi official. In the action that started in November, 11 princes and 200 others have been put under house arrest in a five-star hotel in Riyadh. It is claimed that properties worth about 800 billion dollars in 1200 accounts have been sealed.

Settlement-amount-in-SaudiDuring the discussions between the accused and the government agencies, about ninety people have been released and the charges against them have been withdrawn. The Saudi Attorney General and member of anti-corruption committee, ‘Sheikh Saud Al-Mojeb informed that ‘As of now there are 95 people under house arrest and out of them five accused are thinking of settlement whereas the others are studying the evidence submitted against them’.

‘The instructions from the royal family are clear. The charges will be withdrawn against those who express repentance and are willing for a settlement.’, said ‘Al-Mojeb. He asserted that this is the new era in Saudi and the anti-corruption drive will not stop. At the same time, he refused that there was any right violations in case of the people who have been arrested.

According to a senior official, the discussions with most of the accused will be completed by the end of this month and more than USD 100 billion will be recovered as the settlement amount. He also clarified that those who are not willing for a settlement will be taken to court. Nearly one hundred and twenty-five accused have taken the ‘settlement’ route to get their freedom. They have agreed to deposit 70% of their wealth in the Saudi treasury for this purpose.

It is said that some accused that are still under arrest, have refused to accept the conditions. Prince Al-Waleed is among them. Price Al-Waleed was instructed to deposit USD six billion in the Saudi treasury by the Saudi agencies. The Al-Arabi Al-Jadid news website reported that the talks failed as Prince Al-Waleed refused the proposal. It is said that there is a fortune of USD 17 billion with Prince Al-Waleed.

Crown Prince Mohammad Bin Salman has taken an aggressive stand about the drive and has started increasing the pressure on the accused. The five star hotel in Riyadh has started accepting bookings from the next month and the ‘settlement’ with all the accused will be complete by then are the indications received from the Saudi officials.