Saudi raised SR400 billion from ‘anti-corruption’ drive

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Saudi Arabia has wrapped up a long-running corruption probe that captured the market’s attention in 2017 after the kingdom detained dozens of prominent princes and businessmen.

The Saudi Royal Court on Wednesday said the kingdom has retrieved more than 400 billion Saudi riyals in cash, real estate and other assets.

A statement from the Royal Court said 381 people were summoned as part of the probe. Settlements were reached with 87 of those accused after they confessed to charges against them.

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The Public Prosecutor refused to settle the cases of 56 individuals due to existing criminal charges, the statement said.

Eight people refused to settle “despite the existence of evidence against them” and they were referred to the Public Prosecutor.

More than SR400 billion ($107bn) was “retrieved to the state treasury in the form of real estate, companies, cash, and other assets,” the statement said.

The report said the committee had concluded its investigation.

“A comprehensive review of each detainees’ case was conducted, under the supervision of the Public Prosecutor, and accordingly every detainee was presented with the allegations against them,” the Royal Court statement said.

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The King said Saudi Arabia 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.”

Source: Arab News



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