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  Saudi Billionaires Scramble To Move Cash Offshore, Escape Asset Freeze

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Saudi Billionaires Scramble To Move Cash Offshore, Escape Asset Freeze Vide
PostSubject: Saudi Billionaires Scramble To Move Cash Offshore, Escape Asset Freeze    Saudi Billionaires Scramble To Move Cash Offshore, Escape Asset Freeze Icon_minitimeSun Nov 12, 2017 12:15 am
Over the weekend, Saudi King Salman shocked the world by abruptly announcing the arrests of 11 senior princes and some 38 ministers, including Prince Al-Waleed bin Talal, the world’s sixty-first richest man and the largest shareholder in Citi, News Corp. and Twitter. The purge was orchestrated by a new “supreme committee” to investigate public corruption created by King Salman but under the control of Crown Prince Mohammed bin Salman, who chairs the committee and is widely suspected of being the driving force behind the purge.


Saudi Billionaires Scramble To Move Cash Offshore, Escape Asset Freeze 2017.11.09richraid_0_0


In addition to the arrests, two Royals have died since the purge began. Prince Mansour bin-Muqrin reportedly perished in a helicopter crash near the Yemen border earlier this week, and Prince Abdul Aziz bin Fahd - killed during a firefight as authorities attempted to arrest him.
For all the chaos, Saudi Arabia is benefiting from the climb in oil prices over the past week. However, signs of stress are showing up elsewhere in regional markets, as Bloomberg points out in a recent piece.

http://www.zerohedge.com/news/2017-11-09/saudi-billionaires-scramble-move-cash-offshore-escape-asset-freeze

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