Saudi Arabia swapping assets for freedom of some held in graft purge: sources

Reuters ^ | 2017/11/17 | Samia Nakhoul, Katie Paul

[TigerLikesRooster]

Saudi Arabia swapping assets for freedom of some held in graft purge: sources

Samia Nakhoul, Katie Paul

BEIRUT/RIYADH (Reuters) - Saudi authorities are striking agreements with some of those detained in an anti-corruption crackdown, asking them to hand over assets and cash in return for their freedom, sources familiar with the matter said.

The deals involve separating cash from assets like property and shares, and looking at bank accounts to assess cash values, one of the sources told Reuters.

Dozens of princes, senior officials and businessmen, including cabinet ministers and billionaires, have been detained in the graft inquiry at least partly aimed at strengthening the power of Crown Prince Mohammed bin Salman.

These include billionaire Prince Alwaleed bin Talal, one of the kingdom’s most prominent businessmen.

[TigerLikesRooster]

Saudis expand crackdown with arrest of military officials and businessmen, WSJ reports

•Saudi authorities have reportedly detained about two dozen military officials and several businessmen, widening a corruption investigation.

•Commanders in Saudi Arabia's armed forces are among those authorities have swept up in recent days, The Wall Street Journal reports.

•Earlier arrests contributed to a rally in energy markets that pushed oil prices to their highest level in more than two years.

[BipolarBob]

Nothing to see here folks. Just a little asset forfeiture going on. Governments love this kind of stuff.

[faithhopecharity]

SorozNazi, hilLIARy, Obama what’s his real name,Pelousy too?

[EarlyBird]

Thanks for the interesting update, Tiger!

Though since the headline doesn’t contain “Roy Moore” or “Al Franken”, you may not get many responses.

Do you have a ping list I could join?

[Hartmann]

Yes, of course. The Kingdom needs money. If they could get their hands on the assets of the princes/billionaires they imprisoned, that would help. Also, driving up war fears over possible attacks on Lebanon and Iran should hopefully drive up oil prices. That would help too.

[rrrod]

The events swirling around Saudi boggle the mind.....pay close attention folks

[BeauBo]

Taking their money, takes much of their power.

Taking their money hits them where they live - it is a strong deterrent to keep others from crossing the would-be King.

Taking their money is only right and sets a good precedent, if they had corruptly skimmed it from the Government in the first place.

Taking their money also gets you a lot of money.

[TigerLikesRooster]

It also cuts off money flow to Deep State players from Saudi princes. This is probably the most successful attack on Deep State by Trump so far, while his attempts in U.S. were sabotaged by those both inside and outside his administration.

I want Bushes and Clintons to whither and fade away to oblivion (or be prosecuted in Clinton's case.)

[EarlyBird]

Yes, it certainly looks like Trump has done an end-around and gone after the source of power for many corrupt American politicians, not just Saudi ones!

[BeauBo]

“It also cuts off money flow to Deep State players from Saudi princes.”

Great Point!

Probably a lot of scurrying for cover going on in DC, as well as Riyadh.