Economics
Saudi Official Says Graft Settlements Could Recover $100 Billion
- Corruption probe widens to include retired military officers
- Suspects said to be offered chance to pay and avoid trial
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Saudi authorities estimate they may be able to recover between $50 billion and $100 billion from settlement agreements with suspects detained in an anti-corruption crackdown that has implicated prominent princes, officials and billionaires, a senior official said.
Suspects are being offered settlements to avoid trial, the official said, requesting anonymity to discuss the ongoing investigation. If they accept, talks are held with a special committee to work out the details. Payments are based on the amounts authorities believe suspects have amassed illegally, not their entire wealth, the official said.