Saudi king presented with final corruption crackdown report, $107 bln recovered

Saudi Arabia’s anti-corruption committee presented its final report to King Salman. (File photo: SPA)

Saudi King Salman was briefed on the final report submitted by Crown Prince Mohammed bin Salman and the kingdom’s anti-corruption committee in which 400 bln Saudi riyals ($107 bln) were recovered in corruption cases representing several types of assets in real estate, companies, securities, and in cash.

The report states that the committee concluded its tasks and indicated that the number of subpoenaed individuals reached 381, some of whom were summoned only to testify.

Settlements were reached with 87 individuals after confessing to charges filed against them.

Saudi Arabia’s Public Prosecutor refused to settle the cases of 56 individuals due to already existing criminal charges filed against them.

Eight individuals refused to settle despite the evidence against them and were referred to the Public Prosecutor for further due process in accordance with relevant laws.

As a result of the committee’s investigation, more than SR400 billion ($107 bln) were recovered to the state treasury in the form of real estate, companies, cash, and other assets.

“His Majesty (the king) assured that the Kingdom will continue its efforts to preserve integrity, combat corruption, and empower law enforcement and other relevant state bodies so that they are able to effectively practice their role in preserving public funds,” a statement on Saudi Press Agency read.

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Last Update: Wednesday, 20 May 2020 KSA 09:54 - GMT 06:54
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