Saudi Arabia to freeze arrested persons' bank accounts in anti-corruption probe

Saudi Arabia to freeze arrested persons' bank accounts in anti-corruption probe
KSA to freeze bank accounts of arrested persons

Riyadh – Mubasher: Saudi authorities are said to freeze the bank accounts of the officials and princes arrested during the government’s anti-corruption crackdown.

Money and assets seized during the crackdown and proven that it comes from corruption will be put under the country’s control and added to the kingdom’s public treasury, Al Sharq Al Awsat reported, citing the Saudi Ministry of Culture and Information as saying.

The arrests took place following the approval of several regulatory authorities namely: the National Anti-corruption Commission (Nazaha), Control and Investigation Board, and Attorney General.

The Kingdom’s government on Saturday arrested 11 princes, as well as several current and former ministers.

An anti-corruption committee was formed under a royal decree by King Salman bin Abdulaziz and issued the arrests.

The Saudi Press Agency (SPA) reported that the committee was formed to preserve the country’s public money, issue travel bans, and freeze bank accounts.

The arrested included Prince Alwaleed bin Talal, whose investments and firms cover a wide range of sectors across the world. Bin Talal is the chairman of Kingdom Holding Company (KHC) and has investments in Twitter, Citigroup, and News Corp, among others.

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Source: Mubasher

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