Saudi Arabian crackdown: central bank orders accounts frozen
Dubai/Riyadh — Saudi Arabia’s crackdown, which led to the arrests of princes, billionaires and officials at the weekend, is expanding beyond those detained in what authorities described as an anti-corruption drive. The central bank ordered banks to freeze the accounts of dozens of individuals who are not under arrest, according to three sources. Already, as much as $33bn 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 sources said. No reason has been given for the actions and central bank officials did not immediately respond to a request seeking comment. The weekend arrest of princes, officials and billionaires included Prince Alwaleed bin Talal, one of the world’s richest men and a shareholder in such global companies as Citigroup and Apple, has reverberated across boardrooms and financial inst...
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