Featured Saudi Arabia

Out-of-Favor Saudi Prince Bought Cypriot Passport

By Sara Farolfi, OCCRP, 13 May 2020 OCCRP — A senior member of the Saudi royal family and government adviser arranged citizenship for himself and six family members through Cyprus’ controversial “Golden Visa” program, according to a document obtained by OCCRP. Prince Saud bin Abdulmohsen bin Abdulaziz Al Saud applied… Read More

EU to beef up scrutiny of money-laundering risks, adds Panama to blacklist

The European Commission aims to intensify its scrutiny of states posing money-laundering risks, and is looking into creating a new body to help police financial crime and monitor banks more strictly, draft documents seen by Reuters show. One document, expected to be published on Thursday, adds Panama and other countries… Read More

Spain’s former king received alleged €1.7m donation from ruler of Bahrain, Swiss probe shows

In 2010, Spain’s emeritus king Juan Carlos I was in Geneva to hand nearly $1.9 million (€1.7 million) – a gift he had allegedly received from the king of Bahrain – to Arturo Fasana, the manager of his Swiss bank account at the private lender Maribaud, according to the latter’s… Read More
30th April 2020
The uncle of Syrian President Bashar Assad is reported to have a European fortune that includes two Paris townhouses — one of them 3,000 square meters (32,000 square feet) — a stud farm, a chateau and more than 500 properties in Spain. A former Syrian vice president and military leader,… Read More
16th April 2020
İlker Aycı, then-president of the Investment Support and Promotion Agency of Turkey (ISPAT) and current Turkish Airlines (THY) board chairman, facilitated the investments and private businesses of one-time al-Qaeda financier Yasin al-Qadi, confidential documents have revealed. According to a wiretap authorized by a Turkish court as part of a corruption… Read More
8th April 2020
Adel al-Jubeir, 58, the current Saudi minister of state for foreign affairs, was the authority who allegedly endorsed the origin of the $100 million that was transferred to an account linked to Spain’s then-King Juan Carlos I in Swiss private bank Mirabaud. That’s according to documents from a probe in… Read More
27th March 2020
An information exchange between a Spanish judge and a Swiss prosecutor has shed new light on an ongoing investigation into alleged financial irregularities involving emeritus king Juan Carlos I, the father of Spain’s reigning monarch Felipe VI. Spain’s High Court, the Audiencia Nacional, has been waiting for the Swiss… Read More
17th March 2020
Spain’s King Felipe VI has renounced his personal inheritance from his father and stripped the former king Juan Carlos of his annual stipend after it was alleged that Felipe VI was poised to receive millions of euros from a secret offshore fund with ties to Saudi Arabia. The statement issued… Read More
16th March 2020
Saudi Arabia on Sunday announced the detention of hundreds of government officials, including military and security officers, on charges involving bribery and exploiting public office, and said investigators would bring charges against them. Scores of the kingdom’s economic and political elite were detained in 2017 at Riyadh’s Ritz-Carlton hotel in… Read More
11th March 2020
The Spanish parliament on Tuesday rejected for the second time in two years a request by several parties to open an investigation into the business activities of former King Juan Carlos. Unidas Podemos, which is part of the government coalition together with Prime Minister Pedro Sanchez’s PSOE, had together with… Read More
5th March 2020
Swiss public prosecutors are investigating a 100 million dollar bank account held by Spain’s king emeritus Juan Carlos I in Geneva, according to the Swiss newspaper Tribune de Genève. This money allegedly has its origin in a donation made in 2007 by the Saudi royal house’s finance ministry to the… Read More
11th February 2020
Businesses looking for cash from Saudi Arabia’s $300 billion sovereign-wealth fund, one of the world’s most influential investors, have found it helps to enlist a former reality-TV producer from Sarasota, Fla. Carla DiBello, 35, has become a high-profile figure in Saudi Arabia’s investment scene for her connections with the… Read More
29th January 2020
Deutsche Bank’s Switzerland-based wealth management division paid $1.1 million to secure lucrative business arrangements with a senior member of the Saudi royal family, the Financial Times reported Sunday, citing the findings of an internal probe conducted by the bank. The funds, which were offered in tandem with an internship… Read More