Wednesday, 17 January 2018
News with tag Corruption  RSS
Saudi Ritz Carlton to reopen after being used as luxury prison in corruption purge

Added: 17.01.2018 13:10 | 0 views | 0 comments


The luxury Riyadh hotel used as a prison during Saudi Arabia's crackdown on corruption will reopen for business next month, suggesting authorities are close to settling the cases of many suspects. Dozens of princes, senior officials and top businessmen were detained and confined in the five-star Ritz-Carlton Riyadh as the government launched the purge in early November. The some 200 detainees occupied half the hotel's 492 rooms. The rest was closed to business. The hotel's website now accepts bookings from Feb. 14, quoting a nightly rate for its cheapest room of 2,439 riyals (£480). Saudi authorities have said they expect the vast majority of suspects to agree to financial settlements of charges against them, and that Riyadh hopes to recover about $100 billion of illicit funds. A small number are expected to be prosecuted. Construction giant Saudi Binladin Group said on Saturday that some of its shareholders might transfer part of their holdings to the state in a settlement with authorities. Chairman Bakr Bin Laden and several family members were detained in the crackdown. In late November, senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching a settlement with authorities that involved paying more than $1 billion, according to a Saudi official. Another top businessman who has been held at the Ritz-Carlton is billionaire Prince Alwaleed bin Talal, chairman and owner of global investment firm Kingdom Holding. A Saudi official said this week that he was negotiating a possible settlement but so far had not agreed on terms. It has been rumoured, Mr Talal, one of the world’s richest men, could be forced to pay as much as $7bn. Saudi Arabia is in the midst of a massive political and economic shake-up, marked by the sudden appointment of Prince Mohammed bin Salman as crown prince in June. The 32-year-old son of the king has spearheaded the unprecedented crackdown on corruption among members of the government and royal family, as he consolidates his grip on power in the kingdom.

Ritz-Carlton to re-open after holding royals in Saudi purge

Added: 17.01.2018 0:47 | 0 views | 0 comments


The Ritz-Carlton in Riyadh, a holding place of royals and ministers detained in a sweeping Saudi corruption probe, will re-open for business in February, sources at the hotel said Monday. The Ritz-Carlton website now lists rooms as available from February 14. A hotel employee reached by phone also confirmed to AFP that bookings were available as of mid-February.

From: https:

Saudi Ritz Carlton to reopen after being used as luxury prison in corruption purge

Added: 16.01.2018 22:22 | 0 views | 0 comments


The luxury Riyadh hotel used as a prison during Saudi Arabia's crackdown on corruption will reopen for business next month, suggesting authorities are close to settling the cases of many suspects. Dozens of princes, senior officials and top businessmen were detained and confined in the five-star Ritz-Carlton Riyadh as the government launched the purge in early November. The some 200 detainees occupied half the hotel's 492 rooms. The rest was closed to business. The hotel's website now accepts bookings from Feb. 14, quoting a nightly rate for its cheapest room of 2,439 riyals (£480). Saudi authorities have said they expect the vast majority of suspects to agree to financial settlements of charges against them, and that Riyadh hopes to recover about $100 billion of illicit funds. A small number are expected to be prosecuted. Construction giant Saudi Binladin Group said on Saturday that some of its shareholders might transfer part of their holdings to the state in a settlement with authorities. Chairman Bakr Bin Laden and several family members were detained in the crackdown. In late November, senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching a settlement with authorities that involved paying more than $1 billion, according to a Saudi official. Another top businessman who has been held at the Ritz-Carlton is billionaire Prince Alwaleed bin Talal, chairman and owner of global investment firm Kingdom Holding. A Saudi official said this week that he was negotiating a possible settlement but so far had not agreed on terms. It has been rumoured, Mr Talal, one of the world’s richest men, could be forced to pay as much as $7bn. Saudi Arabia is in the midst of a massive political and economic shake-up, marked by the sudden appointment of Prince Mohammed bin Salman as crown prince in June. The 32-year-old son of the king has spearheaded the unprecedented crackdown on corruption among members of the government and royal family, as he consolidates his grip on power in the kingdom.

South African lawyers demand $130m refund from firms

Added: 16.01.2018 19:21 | 1 views | 0 comments

The money is linked to a corruption-plagued consultancy deal involving state power company, Eskom.

From: www.bbc.co.uk

Saudi Ritz Carlton to reopen after being used as luxury prison in corruption purge

Added: 16.01.2018 17:52 | 0 views | 0 comments


The luxury Riyadh hotel used as a prison during Saudi Arabia's crackdown on corruption will reopen for business next month, suggesting authorities are close to settling the cases of many suspects. Dozens of princes, senior officials and top businessmen were detained and confined in the five-star Ritz-Carlton Riyadh as the government launched the purge in early November. The some 200 detainees occupied half the hotel's 492 rooms. The rest was closed to business. The hotel's website now accepts bookings from Feb. 14, quoting a nightly rate for its cheapest room of 2,439 riyals (£480). Saudi authorities have said they expect the vast majority of suspects to agree to financial settlements of charges against them, and that Riyadh hopes to recover about $100 billion of illicit funds. A small number are expected to be prosecuted. Construction giant Saudi Binladin Group said on Saturday that some of its shareholders might transfer part of their holdings to the state in a settlement with authorities. Chairman Bakr Bin Laden and several family members were detained in the crackdown. In late November, senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching a settlement with authorities that involved paying more than $1 billion, according to a Saudi official. Another top businessman who has been held at the Ritz-Carlton is billionaire Prince Alwaleed bin Talal, chairman and owner of global investment firm Kingdom Holding. A Saudi official said this week that he was negotiating a possible settlement but so far had not agreed on terms. It has been rumoured, Mr Talal, one of the world’s richest men, could be forced to pay as much as $7bn. Saudi Arabia is in the midst of a massive political and economic shake-up, marked by the sudden appointment of Prince Mohammed bin Salman as crown prince in June. The 32-year-old son of the king has spearheaded the unprecedented crackdown on corruption among members of the government and royal family, as he consolidates his grip on power in the kingdom.

U.S. top court rejects former New York lawmaker Silver's appeal

Added: 16.01.2018 15:37 | 1 views | 0 comments

The U.S. Supreme Court on Tuesday rejected former New York state Assembly Speaker Sheldon Silver's bid to avoid a retrial on corruption charges after his 2015 conviction was thrown out by a lower court.

From: feeds.reuters.com

Peter Hain accuses London law firm of 'whitewash'

Added: 16.01.2018 13:00 | 0 views | 0 comments

UK peer Lord Hain accuses Hogan Lovells of failing to properly probe corruption at South Africa's tax agency.

From: www.bbc.co.uk

Peter Hain accuses London law firm of 'whitewash'

Added: 16.01.2018 12:56 | 1 views | 0 comments

UK peer Lord Hain accuses Hogan Lovells of failing to properly probe corruption at South Africa's tax agency.

From: www.bbc.co.uk

Older articles »
advertising

Copyright © 2008-2018 gffnews.com  - all rights reserved