Saudi Arabia Offers Arrested Royals A Deal: Your Freedom For Lots Of Cash | Zero Hedge
Description: The Saudi government has offered the arrested "guests" of the Riyadh Ritz-Carlton a way back to freedom... but it will cost them.
Keywords: Zero Hedge,Zerohedge,Finance,Economics,Markets,Politics,Analysis,Budget Deficit,Corruption,Middle East,Recession,Saudi Arabia
Date: 2017-11-16T00:00:00Z

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# Saudi Arabia Offers Arrested Royals A Deal: Your Freedom For Lots Of Cash

by Tyler Durden
Nov 16, 2017 12:07 PM
0
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As we noted shortly after the Crown Prince’s purge of potential rivals within Saudi Arabia’s sprawling ruling family, while the dozens of arrests were made under the pretext of an "anti-corruption crackdown", Mohammed bin Salman’s ulterior motive was something else entirely: Replenishing the Kingdom’s depleted foreign reserves, which have been hammered for the past three years by low oil prices, with some estimating that the current purge could potentially bring in up to $800 billion in proceeds.

Furthermore, the geopolitical turmoil unleashed by the unprecedented crackdown helped push oil prices higher, creating an ancillary benefit for both the kingdom’s rulers and the upcoming IPO of Aramco.

Saudi Crown Prince Mohammed bin Salman

And, in the latest confirmation that the crackdown was all about cash, the Financial Times reports today that the Saudi government has offered the new occupants of the Riyadh Ritz-Carlton a way out.... and it’s going to cost them: In some cases, as much as 70% of their net worth.

> Saudi authorities are negotiating settlements with princes and businessmen held over allegations of corruption, offering deals for the detainees to pay for their freedom, people briefed on the discussions say.

> In some cases the government is seeking to appropriate as much as 70 per cent of suspects’ wealth, two of the people said, in a bid to channel hundreds of billions of dollars into depleted state coffers.

> The arrangements, which have already seen some assets and funds handed over to the state, provide an insight into the strategy behind Crown Prince Mohammed bin Salman’s dramatic corruption purge.

The crackdown has led to the detention of hundreds of royals, ministers, officals and the country’s richest oligarchs including Prince Alwaleed bin Talal, the billionaire, Waleed al-Ibrahim, the founder of Middle East Broadcasting Center, which owns Al Arabiya, the Saudi satellite television channel, and Bakr bin Laden, chairman of the Saudi Binladin construction group and brother of Osama bin Laden.

Additionally, as we reported, the crackdown sent members of the country’s wealthy upper crust scrambling to liquidate their holdings and move their cash offshore, where they might have a better chance of keeping it away from the Saudi government.

Unsurprisingly, the Saudi "offer" is working.

Some of the suspects, most of whom have been rounded up at the Ritz-Carlton hotel in Riyadh since last week, are keen to secure their release by signing over cash and corporate assets, the FT's sources say.

> “They are making settlements with most of those in the Ritz,” said one adviser. “Cough up the cash and you will go home."

> One multi-billionaire businessman held at the Ritz-Carlton has been told to hand over 70% of his wealth to the state as a punishment for decades of involvement in allegedly corrupt business transactions. He wants to pay, but has yet to work out the details of transferring those assets to the Saudi state.

Settlements for royals will also include pledges of loyalty as MbS prepares himself to take the Saudi throne, though his father, King Salman, has vigorously denied these rumors.

One detainee told his staff that the authorities may be looking to take ownership of his main business. Families of detained suspects have started to hire consultants to assist efforts to secure their relatives’ release and to ring fence the damage to their business interests.

“They are looking for ways to isolate the tainted shareholder and keep the business going,” said the adviser.

> The settlements aim to recover billions of dollars allegedly earned through “corruption” at a time when the government is grappling with a recession triggered by prolonged low oil prices and a budget deficit that widened to $79 billion last year.

The country’s attorney-general has said he is investigating allegations of corruption amounting to at least $100 billion - though the total value of assets seized could be as high as $800 billion. Though the Financial Times puts the high-end figure at a relatively modest $300 billion; to make up for the delta, more arrests are still expected.

Regular Saudis, who’ve seen their benefits cut and some of their jobs taken away, support MbS’s decision. “Why should the poor take all the pain of austerity,” said one Saudi academic. “The rich need to pay their way too.”

In Saudi Arabia, they are about to do just that.

- Budget Deficit
- Corruption
- Recession
- Middle East
- Saudi Arabia

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dark pools of soros Nov 16, 2017 12:09 PM

thats why they tried to take him out in vegas

HenryKissingerZ... dark pools of soros Nov 16, 2017 12:11 PM

go free if you are rich... like in the USA?

mtl4 HenryKissingerZuckerberg Nov 16, 2017 12:12 PM

Tell me how this will work on Soros, I'm all ears.

bobcatz mtl4 Nov 16, 2017 12:20 PM

Not just on Soros, but on the whole gang that's been ROBBING America. https://goo.gl/bFYusM

Joe Davola bobcatz Nov 16, 2017 12:24 PM

Isn't this how it works in most countries - you got the cash, you walk.

BullyDog Joe Davola Nov 16, 2017 12:27 PM

Jewish bed fellows.

Bud Dry BullyDog Nov 16, 2017 12:38 PM

http://americandigitalnews.com/index.php/2017/11/07/las-vegas-saudi-crow...

How am I just hearing about this???

RAT005 Bud Dry Nov 16, 2017 12:45 PM

This is going to get some Snowflakes dreaming of some big USA plans.

Pinto Currency Bud Dry Nov 16, 2017 12:46 PM

Counter-coup coming.

overbet Bud Dry Nov 16, 2017 12:51 PM

interesting article. some peices fit nicely together

Joe Davola overbet Nov 16, 2017 12:57 PM

Working on my business plan for MaaS right now.

I'm thinking of calling it Software Defined Boots On the Terra Virtuallia.

Whoa Dammit Joe Davola Nov 16, 2017 1:37 PM

Someone in KSA needs to study up on Venezuela and capital flight.

biker_trash Bud Dry Nov 16, 2017 1:32 PM

Sure looks like MBS in the Tropicana video, but its too blurry to see his facial details. Has this been confirmed anywhere? This is clearly someone being protected and rushed out of the hotel. Guns were drawn on casino patrons because the team was not sure about the exact location of threat. There really would be no explaination for this event outside a of government or the military. Cannot be explained by local security or police activities.

Middle Eastern Guy - Yes

Balding black hair - Yes

Facial Hair - Yes

Height ~6.3" - Yes

Head shape similar - Yes

Dressed weirdly and inappropriately for a guy being escorted and protected by a team of paramilitary types - yes

shankster Joe Davola Nov 16, 2017 2:20 PM

Just like the 'usa'

ne-tiger mtl4 Nov 16, 2017 12:20 PM

Great, let's celebrate by super-duper freedom fries for congress!

auricle mtl4 Nov 16, 2017 12:21 PM

I can think of a few americans who have gotten rich from graft. Anyone with the title of President or CEO is a good place to start, especially of now defunct companies.

YUNOSELL auricle Nov 16, 2017 12:25 PM

Reminds me of Schindler's List

Yukon Cornholius auricle Nov 16, 2017 1:33 PM

Any employee of any level of government is complicit in legal theft. In fact, their livlihoods depend on it.

bloostar mtl4 Nov 16, 2017 12:34 PM

I thought it was heads.. usually from the shoulders up. Saudi execution cutbacks.. times must be tough.

cheech_wizard mtl4 Nov 16, 2017 12:57 PM

BEB, short for "bullets ending bloodlines"...

Standard Disclaimer: It's not like any members of the Romanov family are walking around today...

webmatex mtl4 Nov 16, 2017 2:01 PM

Soros prepared and put his loot - $19B in the Trust - adds extra protection and generations tax free.

Think of the children.

Maybe Trump could pull an MDB on DC to help with the tax cuts?

evoila HenryKissingerZuckerberg Nov 16, 2017 12:13 PM

They’re trying to pay for the war with the Iranians. That’s what this whole thing was about. I mean you have a 32yo kid with a $600m yacht railing against corruption. Give me an effing break. Only idiots buy this shit.

Erek evoila Nov 16, 2017 12:21 PM

Is this the new way to tax the rich? ...Being that it already works so well on the poor.

Carl Spackler evoila Nov 16, 2017 12:38 PM

Hello. It’s a monarchy.

The kid could become King any day and wield absolute power.

That skiff will become the royal yacht when decreed by the new King.

PR problem solved.

evoila Carl Spackler Nov 16, 2017 1:22 PM

Catches fire beforehand and the whole world covers the story. PR nightmare on hands.

Implied Violins evoila Nov 16, 2017 1:32 PM

That picture I saw of him sitting next to Christine Lagarde was all I needed to see to know he's just another globalist tool.

small axe HenryKissingerZuckerberg Nov 16, 2017 12:30 PM

government everywhere functions at the level of a street gang

Gatto HenryKissingerZuckerberg Nov 16, 2017 2:02 PM

Coming to a US state near you, real soon!

shankster HenryKissingerZuckerberg Nov 16, 2017 2:19 PM

Same in the 'usa' pay the IRS your money or go to jail.

HRClinton dark pools of soros Nov 16, 2017 12:19 PM

I AM entertained.

Dukes Nov 16, 2017 12:10 PM

The hair, stache and glasses scream 1983

Is that Eugene Levy?

Peacefulwarrior Dukes Nov 16, 2017 12:11 PM

Is that Fredo Corleone??

booboo Peacefulwarrior Nov 16, 2017 12:27 PM

"you broke my heart Fredo, give me 60 billion and you can heal it"

ParkAveFlasher Peacefulwarrior Nov 16, 2017 12:31 PM

"What about me?! I'm smaht! Not like everyone says..."

wcvarones Dukes Nov 16, 2017 12:34 PM

Father Guido Sarducci.

Peacefulwarrior wcvarones Nov 16, 2017 12:38 PM

HA +1

I woke up Dukes Nov 16, 2017 1:15 PM

When you surround yourself with people that suck up to you you'll never get someone to say your style is 30 years old

LawsofPhysics Nov 16, 2017 12:09 PM

Sounds like the IRS, to whit the response is "what cash?"

hedgeless_horseman Nov 16, 2017 12:19 PM

So sad that we wasted so many young American lives in the Gulf Wars to prop up these evil motherfuckers and the Bush Family Syndicate, not to mention the millions of people they killed.

War is a racket!

Peacefulwarrior hedgeless_horseman Nov 16, 2017 12:19 PM

HW is on the waiting list to be have his "total and complete consciousnes" transferred into a Google Bot..

OverTheHedge Peacefulwarrior Nov 16, 2017 2:28 PM

How do you "transfer", rather than copy? Any deletion is actually death, but the copy lives on. I never understood the benefit of having a copy of you become immortal: the copy would think he was you, but you would be dead, and the copy would just be a copy. Great for keeping the wife happy, but not so good for you. Still, at least you would rest easy, knowing the rubbish (trash?) was being taken out on a regular basis.

If your man Bush does transfer his consciousness, at least you can be smug, knowing he is actually dead as a doornail, even if his doppelganger does rule the world.

Stopdreaming hedgeless_horseman Nov 16, 2017 12:21 PM

This is nothing new...all wars are banker wars...Vietnam, WWII, WWI...on and on and on and on...most people are asleep. TPTB want to keep it that way...

Go buy another monster truck and another iPhone to keep you zombified and hypnotized LOL

hola dos cola hedgeless_horseman Nov 16, 2017 12:28 PM

'This time it is different'.

south40_dreams Nov 16, 2017 12:10 PM

Your money, or your life

buzzsaw99 south40_dreams Nov 16, 2017 2:17 PM

jew response: hold on a minute, i'm thinking about it.

Mr. Universe buzzsaw99 Nov 16, 2017 2:33 PM

Followed by "Ok you can have her...oh I thought you said wife".

buzzsaw99 Mr. Universe Nov 16, 2017 2:36 PM

rip henny

Bill of Rights Nov 16, 2017 12:13 PM

" What we have here is failure to communicate "

Another words what he's saying is, we know you have money abroad come clean or it comes clean off...Hows that Clinton foundation working out?

BigWillyStyle887 Nov 16, 2017 12:11 PM

LoLing so hard right now

PitBullsRule Nov 16, 2017 12:12 PM

This is just a bunch of sand niggers fighting over the loot money from all the millions of monster-truck-morons that handed over Americans wealth for oil.

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