Anti-Money Laundering News and Information

The Saudi heir continues to get rid of his rivals as part of the war on corruption

In Saudi Arabia, the Anti-Corruption Agency has released a video of what it claims is one of the biggest affair in the kingdom. According to the agency, a gang that included 13 government officials, four businessmen and five other residents employed by companies that won municipal tenders was arrested at a municipality near Riyadh.
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The agency said it had found more than 193 million reals (more than $ 50 million) in cash. The money was removed, among other things, in an underground vault. About $ 40 million were found in the suspects’ bank accounts, as well as real estate in their possession worth about $ 38 million.
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Yesterday’s exposure is part of an ongoing effort announced by Regent Muhammad bin Salman to fight the widespread corruption that has swept the kingdom.
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October 17, 2020, Published on nziv.net
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