Saudi Crackdown Widens as More Bank Accounts Said Frozen [Bloomberg Business News]
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Source: Bloomberg Business News
Banks told to freeze accounts of dozens, hundreds more on list Princes, businessmen, officials arrested in anti-graft drive Saudi Crackdown Widens With More Accounts Frozen Saudi Arabia’s surprise crackdown, which led to the arrests of princes, billionaires and officials over the weekend, is expanding beyond those previously detained in what authorities described as an anti-corruption drive. The central bank ordered banks in the kingdom to freeze the accounts of dozens of individuals who aren’t under arrest, according to three people with knowledge of the matter. Already, as much as $33 billion in personal wealth belonging to the richest detainees has been put at risk. More may be on the way: The Saudi Arabian Monetary Authority sent a list of hundreds of names to lenders, telling them to freeze any accounts linked to them, two of the people said. They asked not to be identifie
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