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Saudi graft settlements could reap billions of dollars

Official estimates $50 bn to $100 bn may be recovered; probe widens to include retired military officers

Riad Hamade & Alaa Shahine | Bloomberg 

Saudi authorities estimate they may be able to recover as much as $100 billion from settlement talks with suspects detained in an anti-corruption crackdown that has implicated prominent princes, officials and billionaires, a senior official said. Suspects are offered settlements to avoid trial, the official said on condition of anonymity to discuss the ongoing investigation. If they accept, talks are then carried out by a special committee to work out the details. The talks involve the amounts authorities believe suspects have amassed illegally, not their entire wealth, and ...

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First Published: Sun, November 19 2017. 01:05 IST