Seizure of Assets of Saudi Detainees as a Condition for 'Freedom'

Reuters reports, citing informed sources, that Saudi Arabia is demanding the seizure and confiscation of the assets of some recently detained individuals in exchange for their freedom. According to an informed source, the Saudi government has separated cash, stocks, and real estate. The government is also seeking to ascertain the amount of these individuals' bank account balances. Dozens of princes, high-ranking officials, military officers, businessmen, ministers, and Saudi billionaires were suddenly arrested on Saturday, November 4, by the 'Anti-Corruption Committee,' just hours after this committee was formed by King Salman. The most notable detained billionaire is Alwaleed bin Talal bin Abdulaziz, with a wealth of $18.7 billion. He is a major shareholder in companies such as Apple and Citigroup. An informed source stated that in recent days, a Saudi businessman withdrew tens of millions of Saudi riyals from his account to pay the government for his freedom. In another case, a former high-ranking official agreed to hand over four billion riyals worth of his shares to the government. Another source told Reuters that the Saudi government has gone beyond freezing accounts in recent days and has issued orders for the seizure and confiscation of assets. Previously, the Financial Times reported that the Saudi government was seeking to confiscate 70% of assets in several cases. According to another informed source, if detainees voluntarily hand over their 'illegitimate' assets to the Saudi government, the days they spent in the luxurious Ritz-Carlton hotel in Riyadh will be considered their punishment. Reports indicate that many of the detainees are being held in this hotel. Reuters, citing its sources, wrote that Saudi officials, with the help of international auditors, inspectors, and individuals experienced in tracking bank accounts, are searching for the assets of the detained individuals, and bank representatives are immediately executing the orders. Saudi officials have stated that the 'Anti-Corruption Committee' has so far interrogated 208 individuals, who have allegedly acquired at least $100 billion in 'illegitimate wealth.' According to Saudi officials, investigations into 'corruption' have also extended to the United Arab Emirates. Among the detainees are individuals such as Mohammed Hussein Al-Amoudi, with an approximate wealth of $10.4 billion. Al-Amoudi owns construction, agriculture, and energy companies in Sweden, Ethiopia, and Saudi Arabia. Saleh Abdullah Kamel, another detained Saudi billionaire, has a wealth of nearly $2.3 billion. Reuters adds that some bankers and financial advisors have told the agency that Riyadh may declare the remaining assets of the billionaires and princes as legal in exchange for seizing part of their wealth. Human Rights Watch has recently stated that it sees these widespread arrests more as a sign of 'power play within' than a movement that 'Saudi media' portrays as an anti-corruption effort. This organization has called on the government to provide information about the legal and judicial basis for these arrests. Reuters had previously written that many experts believe the goal of these arrests goes beyond fighting corruption, and the real reason is to eliminate obstacles in the way of Mohammed bin Salman, the 32-year-old Crown Prince of Saudi Arabia. The Wall Street Journal also reported, citing informed sources, that Saudi officials have so far blocked nearly 2,000 bank accounts. Two informed sources told the newspaper that Saudi officials hoped to seize $800 billion, most of which is outside Saudi Arabia, an amount that these officials claim was obtained 'illegally.' However, according to these sources, Saudi officials have now concluded that they can provide evidence for $300 to $400 billion of these individuals' assets that were acquired 'illegally.' The Wall Street Journal also wrote that according to some sources, Saudi officials are seeking to confiscate 70% of the wealth of the detainees in several cases. In this context, arrests in Saudi Arabia continue. Trump welcomes the actions of the King and Crown Prince of Saudi Arabia in 'fighting corruption.' Dozens of detained Saudi officials are being monitored 'in five-star hotels.' Saudi Arabia summoned its ambassador in protest against the statements of the German Foreign Minister. The Qatari Foreign Minister stated that what happened to us is repeating for Lebanon.