Saudi Billionaire Prince Alwaleed Reportedly One Of At Least A Dozen Arrested For Corruption
Igor Bosilkovski for Forbes; November 4, 2017.
Saudi Prince Alwaleed bin Talal Al Saud, the wealthiest person in the Middle East on FORBES list of billionaires, has been arrested, according to various media reports. A source in the region also shared with Forbes a list of those arrested.
According to The New York Times, Saudi satellite TV network Al Arabiya announced that "11 Saudi princes, four sitting ministers and ‘tens’ of former ministers have been arrested on orders from the new anti-corruption committee headed by Crown Prince Mohammed bin Salman.”
Representatives of Alwaleed did not respond to a request for comment at the time of the publication of this article.
Alwaleed bin Talal, who has degrees from Menlo College and Syracuse University, controls the Saudi-listed investment firm Kingdom Holding, which owns stakes in Citigroup, Twitter and many other companies. Through Kingdom Holding, he also owns the George V hotel in Paris, has a stake in the Plaza Hotel in Manhattan and controls satellite television networks in Arab countries. Alwaleed owns 95% of Kingdom Holding. The 62-year-old prince has a net worth $18.7 billion, according to Forbes estimates.
Besides his wealth, he is known in the western world for supporting Saudi women's right to drive . . .
Saudi king sacks top ministers, gives more power to crown prince
Reem Shamseddine and Katie Paul, for Reuters; November 4, 2017.
RIYADH (Reuters) - Saudi King Salman appointed two new ministers on Saturday to key security and economic posts, removing one of the royal family’s most prominent members as head of the National Guard and boosting the kingdom’s young crown prince.
The king also announced the creation of a new anti-corruption committee chaired by Crown Prince Mohammed bin Salman which Al Arabiya TV said had already detained 11 princes, four current ministers and tens of former ministers. The suspects were not named. . . .
Honestly, I have no idea what's going on, I have no insite. What in your opinion does this mean?
IMO, the 'corruption' part is mostly a smokescreen, designed for internal SA consumption to placate the populace while consolidating both power and $$ within the extreme upper part of the royal family. Prince Alwaleed bin Talal's estimated $18 net worth may very well be clawed back into that same echelon's coffers and this 'roundup' is nothing more than an inverse bloodless (for now) coup. Mohammed bin Salman tightens his grip. With no constitution, 'corruption' can be whatever he decrees it to be. Giving control of the national guard to a lesser known prince, that is reportedly a 'yes man' to Salman is just one more move in a route that has been taking place for the last couple years.
[This message has been edited by maryjane (edited 11-05-2017).]
Whatever else it may be, it is clearly a consolidation of power to smooth the way for the Crown Prince, Mohammed bin Salman (32), to ascend to his father King Salman's throne when Salman (almost 82) can no longer serve as the head of state and ultimate decision maker.
The Crown Prince has been and continues to hold the office of Minister of Defense.
Salman took the throne after the passing of King Abdullah, early in 2015.
Prince Miteb bin Abdullah, son of the late King Abdullah, has been eased out of his position as Minister of the National Guard.
It looks like that is a precaution against even the smallest possibility of a power struggle over secession to the throne--a scenario in which the National Guard could be tempted to try to put the Abdullah family lineage back on top. At least, it has that as a "plus" that's rolled into it. Whatever the other reasons for this change.
And what to make of the young (32) Crown Prince Mohammed bin Salman?
He was just interviewed (24-October) by reporter Martin Chulov of The Guardian.
quote
Saudi Arabia’s crown prince, Mohammed bin Salman, has vowed to return the country to “moderate Islam” and asked for global support to transform the hardline kingdom into an open society that empowers citizens and lures investors.
In an interview with the Guardian, the powerful heir to the Saudi throne said the ultra-conservative state had been “not normal” for the past 30 years, blaming rigid doctrines that have governed society in a reaction to the Iranian revolution, which successive leaders “didn’t know how to deal with”.
HIs biggest problem right now would seem to be the Saudi-led military attempt to quash the Houthi faction and restore what had previously been the internationally recognized government of Yemen, which is directly on Saudi Arabia's southwest border. This is widely regarded as a proxy war between Saudi Arabia and Iran. It seems like a war that has no end in sight.
I don't know what to think about this anti-corruption campaign and these very high profile detentions. Prince Alwaleed? That's like if the feds were to go after Bill Gates for insider stock trades or fraudulent income tax filings. I mean... wow.
I will watch for more media reports and you can watch for any updates on this Pennock's thread.
[This message has been edited by rinselberg (edited 11-05-2017).]
In decades past, the Saudi royal 'family' was relatively small. Now, there are dozens and dozens of 'princes' and that family's power & influence has been diluted by it's own size. I don't expect to see executions, but do expect to see the equivalent of 'excommunications'. Some of the rich and powerful people, will undoubtedly be retired to the farm so to speak..tho some may in fact be stripped of their wealth and imprisoned as a 'show trial ' for the benefit of everyday Saudis.
Originally posted by maryjane: IMO, the 'corruption' part is mostly a smokescreen, designed for internal SA consumption to placate the populace while consolidating both power and $$ within the extreme upper part of the royal family.
It would appear that Saudi King Salman is not aware that I am available for adoption.................
Apparently, he doesn't read much on Pennock's Fiero Forum.
------------------ Ron
Isn't it strange that after a bombing, everyone blames the bomber, his upbringing, his environment, his culture, his mental state but … after a shooting, the problem is the gun.... Open your frigg'n minds, think about all the other tools that can be made into WMDs.
I sincerely hope that life is never discovered on another planet because, sure as hell Progressives and Socialists will want to send them money.
It would appear that Saudi King Salman is not aware that I am available for adoption.................
Apparently, he doesn't read much on Pennock's Fiero Forum.
Don't hold your breath for that to happen any time soon Ron, but there is hope for you yet, to become a lesser prince. Brush up on your Carlton. Read not long ago someone is floating an idea for a Fresh Prince of Belaire movie.
[This message has been edited by maryjane (edited 11-05-2017).]
The late comedian Rodney Dangerfield's tagline comes to mind in this exclusive from Reuters about the Saudi hand in the surprise resignation of Lebanon's Prime Minister Saad al-Hariri.
Exclusive: How Saudi Arabia turned on Lebanon's Hariri Samia Nakhoul, Laila Bassam and Tom Perry for Reuters; 11-NOV-2017.
BEIRUT (Reuters) - From the moment Saad al-Hariri’s plane touched down in Saudi Arabia on Friday Nov. 3, he was in for a surprise.
There was no line-up of Saudi princes or ministry officials, as would typically greet a prime minister on an official visit to King Salman, senior sources close to Hariri and top Lebanese political and security officials said. His phone was confiscated, and the next day he was forced to resign as prime minister in a statement broadcast by a Saudi-owned TV channel.
The move thrust Lebanon back to the forefront of a struggle that is reshaping the Middle East, between the conservative Sunni monarchy of Saudi Arabia and Shi‘ite revolutionary Iran.
Their rivalry has fueled conflicts in Iraq, Syria and Yemen, where they back opposing sides, and now risks destabilizing Lebanon, where Saudi has long tried to weaken the Iran-backed Hezbollah group, Lebanon’s main political power and part of the ruling coalition.
Like MJ said... I've been reading up on it, and... if the news is correct on it, it's simply a way for the King to consolidate power. Not that I wouldn't be surprised if every one of them was guilty of corruption in some way or another (what literally is corruption in a true monarchy anyway?)... but yeah, it seems to just be a way to get power.
Originally posted by maryjane: IMO, the 'corruption' part is mostly a smokescreen, designed for internal SA consumption to placate the populace while consolidating both power and $$ within the extreme upper part of the royal family. Prince Alwaleed bin Talal's estimated $18 net worth may very well be clawed back into that same echelon's coffers and this 'roundup' is nothing more than an inverse bloodless (for now) coup. Mohammed bin Salman tightens his grip. With no constitution, 'corruption' can be whatever he decrees it to be. Giving control of the national guard to a lesser known prince, that is reportedly a 'yes man' to Salman is just one more move in a route that has been taking place for the last couple years.
Not only fakes out many SA people but most MSM and thus people in other countries. Is a Purge hidden under "Anti-corruption" label. Arrest now, get kangaroo court to a very long prison term or very likely death. US and other Govrmnts ignore this because of oil. Can still go badly causing the Heir Prince to get assassinated. NK is still doing basically same but not hiding the killings. China USSR and some others have a long history Purges etc like Putin arrested many people he didn't like or a perceived threat to control.
------------------ Dr. Ian Malcolm: Yeah, but your scientists were so preoccupied with whether or not they could, they didn't stop to think if they should. (Jurassic Park)
A prince once considered a contender to Saudi Arabia's throne has been freed after being detained for weeks as part of a widespread crackdown on corruption, a senior member of the royal family told NBC News on Wednesday.
Miteb bin Abdullah, 65, was let go after agreeing to pay more than $1 billion to settle corruption allegations against him, Reuters earlier reported. The news agency cited an unnamed Saudi official involved in the crackdown. NBC News was not able to independently verify the report. Saudi officials were not immediately available for comment.
. . .
A second source close to the investigation said that the rest of the some 200 detainees — many of whom were being held in Riyadh's luxurious Ritz-Carlton hotel in the capital Riyadh — would be released in the coming days.
Saudi authorities who earlier this month estimated they could eventually recover around $100 billion have been asking detainees to hand over assets and cash in return for their freedom.
. . .
While many Saudis were tired of widespread corruption and welcomed the arrests, the crackdown has also been interpreted as power grab by the crown prince, who is pushing deep political, social and economic changes in the conservative Gulf kingdom.