Update on the investigations by the supreme anti-corruption committee
His Excellency Sheikh Saud Al Mojeb, Attorney General of the Kingdom of Saudi Arabia and member of the supreme anti-corruption committee formed by Royal Order on Saturday November 4th, 2017, issued the following statement on Thursday November 9th:
“The investigations of the supreme anti-corruption committee are proceeding quickly, and we can provide the following updates:
- A total of 208 individuals have been called in for questioning so far.
- Of those 208 individuals, seven have been released without charge.
- The potential scale of corrupt practices which have been uncovered is very large. Based on our investigations over the past three years, we estimate that at least USD $100 billion has been misused through systematic corruption and embezzlement over several decades.
The evidence for this wrongdoing is very strong, and confirms the original suspicions which led the Saudi Arabian authorities to begin the investigation in the first place.
Given the scale of the allegations, the Saudi Arabian authorities, under the direction of the Royal Order issued on November 4th, have a clear legal mandate to move to the next phase of our investigations, and to take action to suspend personal bank accounts.
On Tuesday, the Governor of the Saudi Arabian Monetary Authority (SAMA), agreed to my request to suspend the personal bank accounts of persons of interests in the investigation.
It is important to repeat, as all Saudi authorities have done over the past few days, that normal commercial activity in the Kingdom is not affected by these investigations. Only personal bank accounts have been suspended. Companies and banks are free to continue with transactions as usual.
There has been a great deal of speculation around the world regarding the identities of the individuals concerned and the details of the charges against them. In order to ensure that the individuals continue to enjoy the full legal rights afforded to them under Saudi law, we will not be revealing any more personal details at this time. We ask that their privacy is respected while they continue to be subject to our judicial process.
The Government of Saudi Arabia, under the leadership of King Salman and Crown Prince Mohammed bin Salman, is working within a clear legal and institutional framework to maintain transparency and integrity in the market.”