US says watching events in Saudi amid reports of post-purge wealth deals

Treasury Secretary Steven Mnuchin says US "obviously monitoring the situation" in Saudi Arabia where high-profile detainees will reportedly swap assets and cash in return for their freedom.

US Treasury Secretary Steven Mnuchin says the Crown Prince (Mohammed bin Salman) is doing a great job at transforming the country.
Reuters

US Treasury Secretary Steven Mnuchin says the Crown Prince (Mohammed bin Salman) is doing a great job at transforming the country.

The United States is closely watching the situation in SaudiArabia amid reported asset agreements between Saudi authorities and some detainees in an anti-corruption crackdown, US Treasury Secretary Steven Mnuchin said on Friday.

Asked about the agreements to hand over wealth for detainees' freedom, Mnuchin told CNBC "I think that the Crown Prince (Mohammed bin Salman) is doing a great job at transforming the country," adding that the US was "obviously monitoring the situation."

According to Reuters news agency, Saudi authorities are striking agreements with some of those detained in an anti-corruption crackdown, asking them to hand over assets and cash in return for their freedom. 

The deals involve separating cash from assets like property and shares, and looking at bank accounts to assess cash values. 

Other

One of the detainees include Saudi Arabia's Prince Alwaleed bin Talal, known for his big bets on Citigroup and other top Western companies. (Reuters file)

Assets for freedom? 

One businessman had tens of millions of Saudi riyals withdrawn from his account after he signed. 

In another case, a former senior official consented to hand over ownership of four billion riyals worth of shares, Reuters quoting a source said.

There was no immediate comment from the Saudi government on the deals.

The Saudi government earlier this week moved from freezing accounts to issuing instructions for "expropriation of unencumbered assets" or seizure of assets, said a second source familiar with the situation.

Dozens of princes, senior officials and businessmen, including cabinet ministers and billionaires, have been detained in the inquiry at least partly aimed at strengthening the power of Crown Prince Mohammed bin Salman.

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