Saudi Arabia to Set Up Entity for Assets Taken in Crackdown
- Organization said to evaluate and potentially sell holdings
- Kingdom could recover as much as $100 billion from agreements
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Saudi Arabia is setting up an organization to manage assets relinquished by detainees as part of settlement agreements in the crackdown on alleged corruption, according to people with knowledge of the matter.
The kingdom is talking to consultants about how to set up the entity, which will evaluate and potentially sell holdings handed over by billionaires and princes in exchange for their freedom, said the people, asking not to be identified because the matter is private.