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Mohammed Al-Amoudi transferred to maximum security prison January 11, 2018

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Mohammed Al-Amoudi transferred to maximum security prison

Tesfa News ESAT News, January 10, 2018

The Ethiopian born Saudi tycoon, Mohammed Hussein Al-Amoudi and all the remaining detainees that were held at the Ritz-Carlton hotel have been transferred to Al-Ha’ir prison, a maximum security prison south of Riyadh.

The Middle East Monitor quoted the Arabic Al-Araby Al-Jadeed news site as saying authorities have transferred the remaining detainees being held at the Ritz-Carlton hotel to Al-Ha’ir prison because they have refused to pay large payments, 70% of their wealth, to secure their freedom.

The report said nearly 60 detainees were transferred to the most high security prison in the Kingdom. The prisoners include Prince Al-Waleed Bin Talal as Prince Turki Bin Abdullah and a number of government officials who refused to make the large financial payments for their release.

Among those transferred to the maximum security prison is Mohammed Hussein Al-Amoudi whose worth is 10.6 Billion dollars and owns businesses in hundreds of millions of dollars in Ethiopia. He works works closely with the TPLF oligarchy that granted him thousands of hectares of agricultural land and several prime plots in the capital Addis Ababa. He hit jackpot with gold in Ethiopia and has been mining gold for over two decades. His agricultural and construction projects stretch all across the country.

Early in November Crown Prince Mohammed Bin Salman ordered the arrest of about 200 princes and businessman accused of high level corruption.

But the purge was also seen as a move to raise money for the cash strapped Kingdom’s treasury. Authorities aimed at raising 100 billion dollars in return for the release of the suspects.

Prince Miteb bin Abdullah had been released after paying more than $1 billion for his release. And a few others had reportedly reached settlement for their freedom.

The Ritz-Carlton hotel is now available for booking starting next month, according to its website.


 

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Corruption and money laundering among charges facing Saudi princes and businesses including Ethiopian born Al-Amoudi. #Ethiopia #Al-Amoudi November 7, 2017

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Ethiopian-born billionaire detained in Saudi anti-corruption crackdown

ETHIOPIA

An Ethiopian – born business mogul has been named in an anti-corruption crackdown by the Saudi Arabia government over the weekend.

Mohammed Hussein Al Amoudi, 71, was detained along with 11 princes, four current ministers and a number of former ministers. Saudi-owned Al Arabiya television said the probe is headed by Crown Prince Mohammed bin Salman.

Al Amoudi is an Ethiopian – born business man who holds both Saudi and Ethiopian nationality. According to Forbes, as at 2016, his net worth was approximately $10.9 billion.

His investments are linked to oil and global commodities. He is also listed as Ethiopia’s richest man and the second richest Saudi Arabian citizen in the world. He is one of two businessmen detained, the other is one Saleh Kamel.View image on Twitter

 


His two main businesses are Corral Petroleum Holdings and MIDROCMIDROCdescribes itself as “a global investment group, wholly owned by Mohammed Hussein Al Amoudi.

“It has substantial interests in petroleum, agribusiness, property, industry and industrial services, engineering and construction, tourism and trade and investment, largely in Europe, Africa, the Middle East and North Africa.”

Al Amoudi is said to have migrated from Ethiopia to Saudi Arabia when he was 19 and became a full citizen of the Kingdom in 1965. He built up a private fortune in construction and property before diversifying into the downstream energy sector with major refining and retail investments in both Lebanon and Saudi Arabia.

MIDROC has an international focus with three main operating companies: MIDROC Middle East (based in Saudi Arabia), MIDROC Europe (based in Sweden) and MIDROC Africa where the company’s focus is heavily on Ethiopia. It also has separately managed and significant petroleum interests.


Click here to read more: Sheik Mohamed Al Amoudi’s Arrest and its Implications to Ethiopia.

His influence is remarkable. His people are loyal and will not do anything to antagonize him or the regime. If one has close relation to his circles they are guaranteed success. There are many Ethiopians that oppose the regime but will not dare utter a word for fear of alienation.Therefore, the news of his arrest is a huge deal. It is significant event in the history of the region and Ethiopia. This is an event that will quicken the demise of the TPLF as he was a significant player and ardent supporter. Al Amoudi has openly bragged that he is Weyane. But, what is the impact of his arrest and its repercussions? It is the biggest disruption that the TPLF has ever seen.


Saudi Arabia freezes accounts of detained corruption suspects

Al Arabiya English Monday, 6 November 2017

Sums of money that appear to be linked to corruption cases will be reimbursed to the Saudi state’s General Treasury. (Shutterstock)

Saudi authorities have announced that they will be freezing the bank accounts of suspects detained in the kingdom on corruption charges.

Officials said that there is “no preferential treatment” in the handling of their cases.

The Saudi Center for International Communication, an initiative of the Ministry of Culture and Information, said that sums of money that appear to be linked to corruption cases will be reimbursed to the Saudi state’s General Treasury.

The Saudi anti-corruption committee, which was set up on Saturday by King Salman’s royal decree and chaired by Crown Prince Mohammed bin Salman, had arrested a number of princes and ministers.


More ….

The former Saudi billionaire, Mohammed Hussein al-Amoudi, is under strict security guard in a room on the top floor of one of the most luxurious hotels in the Saudi capital after the Saudi authorities issued a decision to arrest him for his involvement in corruption cases inside and outside Saudi Arabia. And a group of former Saudi businessmen and officials.

ሼክ አል አሙዲ በሳዑዲ ዓረቢያ በቁም እስር ላይ ናቸው

Saudi Prince, Asserting Power, Brings Clerics to Heel

 

Saudi Arabia princes detained, ministers dismissed