So where lies the difference with Putin’s Russia, Poroshenko’s Ukraine, Netanyahu’s Israel? It’s all in the marge of corruption in all states whether a so-called democracy following capitalist principles or straigtforward authoritarian run or a strong man’s dictatorship. Freedom, tolerance, liberal thought and acceptance of a multi-ethnic planet earth where we all live together. Peace Now!
The Richest Man in the Middle East Might Be Forced Pay $6 Billion for His Freedom | Fortune |
Saudi Arabia’s richest man may exchange that title for his freedom. Last month Saudi Prince al-Waleed bin Talal was one of dozens of government officials, businesspeople and royals arrested by the Saudi government in a sweeping corruption probe.
The Wall Street Journal reports that the allegations against Prince al-Waleed include bribery, money laundering, and extortion. The price that Saudi officials are demanding for his freedom: $6 billion, according to the Journal.
The 62-year-old Prince is currently living in a makeshift prison at the Riyadh Ritz-Carlton. He was an early investor in a number of western businesses including Twitter and Lyft, and currently has amassed a fortune estimated at more than $18 billion.
While handing over $6 billion certainly wouldn’t bankrupt the prince, he has reportedly said that doing so would be an admission of guilt, which he does not want to make, according to the Journal. He also would have to dismantle part of his financial empire.
Instead, he has offered to give the government a large piece of his conglomerate, Kingdom Holding Company, in exchange for his freedom. The company currently has a market value of $8.7 billion, down roughly 14% since the prince’s arrest.
A lawyer who has previously worked with the prince says that no formal charges have been filed against him, and there would be “no formal accusations” unless a settlement is not reached.
- ○ Saudi billionaires said to seek shielding assets amid crackdown | Gulf News |
○ Citigroup faces Saudi setback as billionaire backer arrested
More below the fold …
UN chief extends Hariri tribunal mandate for 3 years | Gulf News |
United Nations: UN Secretary-General Antonio Guterres is extending for three years the mandate of the Special Tribunal for Lebanon, which is prosecuting suspects in the 2005 assassination of former Lebanese Prime Minister Rafik Hariri.
UN spokesman Stephane Dujarric announced the extension from March 1, 2018, saying the trial in absentia of four men indicted in the truck bombing in Beirut that killed Hariri and 22 others is taking place at the UN-backed tribunal outside The Hague, Netherlands.
He says the tribunal also has jurisdiction over attacks in Lebanon between Oct. 1, 2004, and Dec. 12, 2005, connected to the Hariri attack or similar in “nature and gravity.”
The spokesman says Guterres reaffirms the UN commitment to support the tribunal’s fight against impunity and bring those responsible for major crimes to justice.
Saudi Arabia’s anti-corruption prince buys $300 million French chateau | France24 |
Saudi Crown Prince Mohammed bin Salman has been revealed as the owner of a French chateau described as the world’s most expensive home, according to a report in the New York Times.
The purchase of the vast property west of Paris for $300 million (275 million euros) would be the latest in a string of extravagant purchases by the powerful prince, who has been waging a sweeping anti-corruption campaign.
The newly-built chateau was sold to a mystery buyer in 2015, and though its ownership is concealed through shell companies, advisers to the royal family have confirmed the prince is its ultimate owner, the New York Times reported Saturday.
Saudi officials have declined to comment on the report, which comes after French investigative website Mediapart similarly pointed to the prince as the owner in July.
My earlier diaries on Prince al-Waleed bin Talal …
- ○ Hariri II – the American Puppet
○ Quite Depressing Really, Obama and the ISIS Crisis
○ 1967 War – Israel – Rothschild – Murdoch – Cheney – Spoils [582 shares]
○ The Saudi-Israeli Alliance and Piggy-back Coup of 2005 [435 shares]