Over 200 arrests in Saudi anti-corruption crackdown

Source: ICIS News


LONDON (ICIS)--Over 200 people are in custody as part of the Saudi Arabian government’s crackdown on corruption as “at least $100bn” would have been misused in corruption and embezzlement over several decades, the attorney general for the Kingdom said on Thursday.

208 individuals have been called in for questioning so far, with seven released without charge.

Actions are starting to be taken to suspend the personal bank accounts of some of those arrested, according to Saud Al Mojeb, Attorney General for Saudi Arabia.

No move has been to freeze accounts held by companies or banks at this point, Al Mojeb said, and normal commercial activity is continuing in the country during the investigation.

Few of the targets of the investigation in the oil-rich country are known so far, but there are currently no plans to reveal the identities of any individuals under investigation, according to Al Mojeb.

The evidence uncovered of wrongdoing in the investigation has been very strong, he added.

Brent crude oil prices broke the $64/bbl mark for the first time since early 2015 in the aftermath of the arrests.