Rats abandon ship – Saudi billionaires withdraw money, fearing new King


November 9 , 2017 – Fort Russ News – 
KtovKurse – translated by Inessa Sinchougova 

Anti-corruption raids in Saudi Arabia continue, the number of arrested persons exceed 200 people. They are accused of laundering and withdrawing more than $ 100 billion from the country.

However, according to many experts, the ultimate goal of apprehending the elite of Saudi Arabia is not stopping anti-corruption activities, but fighting those who can prevent Crown Prince Mohammed bin Salman from taking the throne of the King of Saudi Arabia.

This confirm the rumors that King Salman may soon decide to renounce power in favor of his son. The problems with the health of King Salman in Saudi Arabia have been spoken of for a long time, pushing other clans to step up in the struggle for power.

It can be reasonably assumed that the harsh actions of Mohammed bin Salman are a response to attempts to challenge the succession to the throne. The most influential Saudi Arabian clan Sudairi is in power and, it seems, firmly believes in the right to that power.

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Against this backdrop, some Saudi billionaires and millionaires seek to withdraw assets from the kingdom and the region as a whole of the Cooperation Council of the Arab States of the Persian Gulf. 

The country’s wealthiest people are negotiating with banks, asset managers and advisers to try to transfer cash and other assets from Saudi Arabia and neighboring Persian Gulf states amid fears that the funds may be frozen and new arrests will follow.

The central bank of Saudi Arabia has asked creditors in the Kingdom to freeze the accounts of dozens of persons who are not under arrest, as well as detainees.

The Attorney General of Saudi Arabia said that the arrests last weekend were only the “first phase” of a broader anti-corruption campaign.

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