Why economic crimes should be prosecuted as international crimes
Despite the effects of corruption being as devastating as ‘accepted’ international crimes, writes Mia Swart, economic crimes are too pervasive to be seen as special
In November this year, the news of the anti-corruption drive in Saudi Arabia which led to the arrest of several prominent members of the political and business elite, surprised many. And in late December the news broke of the sentencing of the former vice-president of Iran, Hamid Baghaei for the misuse of public funds while in office. Baghaei received a sentence of 63 years, which is the longest sentence an official has received in Iran in many decades. Does this indicate a new resolve in the Middle East to prosecute corruption? At first blush this might look like the beginning of a wider attempt to clean up corruption in the region, but this would be an overstatement. There seems to be consensus among commentators that the arrests in Saudi Arabia were politically motivated — an attempt by Prime Minister Mohammad bin Salman to tighten his grip on all branches of government and to destroy all networks likely to oppose his power. The arrests of members of the business elite signals to...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.