Anti-corruption campaign in Saudi brings hope to businessmen

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Anti-corruption campaign in Saudi brings hope to businessmen
Anti-corruption campaign in Saudi brings hope to businessmen

ADMA, Lebanon (AP) – Lebanon-based businessmen who lost enterprises through dealings with members of Saudi Arabia’s royal family and others are closely watching a new campaign led by the powerful crown prince targeting princes and tycoons in the oil-rich kingdom.

They hope it will help them win back what they lost over the years.

Many in the kingdom believe that billions of dollars that used to be wasted annually will now go into state coffers rather than the pockets of powerful individuals. Others hope that such a move would encourage people to invest in the kingdom without fear that they could lose everything if their work is manipulated by a well-connected person.

Since the first week of November, some 201 people have been taken into custody by Saudi authorities.

FILE – In this file picture taken May 14, 2012, Saudi Arabia’s Interior Minister Prince Mohammed bin Nayef, left, his older brother Saud bin Nayef, center, Prince Miteb bin Abdullah, son of Saudi King Abdullah bin Abdul Aziz al-Saud wait for Gulf Arab leaders ahead of the opening of Gulf Cooperation Council, also known as GCC summit, in Riyadh, Saudi Arabia. Lebanon-based businessmen and a media mogul who lost businesses in Saudi Arabia or through dealings with members of the royal family are closely watching a new campaign led by the powerful crown prince targeting officials, princes and tycoons in the oil-rich kingdom to see whether it will help them win back what they lost over the years. (AP Photo/Hassan Ammar, File)
FILE – In this file picture taken May 14, 2012, Prince Mohammed bin Salman (MBS) speaks with a Saudi prince while he waits for Gulf Arab leaders ahead of the opening of Gulf Cooperation Council summit, in Riyadh, Saudi Arabia. Lebanon-based businessmen and a media mogul who lost business in Saudi Arabia or through dealings with members of the royal family are watching an anti-corruption campaign targeting officials and princes in the oil-rich kingdom to see whether it will help them win back what they lost. (AP Photo/Hassan Ammar, File)
In this picture taken Wednesday, Nov. 15, 2017, a general view shows the master control room at the LBC TV station in Beirut, Lebanon. Lebanon-based businessmen and a media mogul who lost business in Saudi Arabia or through dealings with members of the royal family are watching an anti-corruption campaign targeting officials and princes in the oil-rich kingdom to see whether it will help them win back what they lost.(AP Photo/Hassan Ammar)
In this picture taken Wednesday, Nov. 15, 2017, Pierre El Daher chairman and CEO of LBC TV station speaks during an interview with Associated Press in Beirut, Lebanon. Lebanon-based businessmen and a media mogul who lost business in Saudi Arabia or through dealings with members of the royal family are watching an anti-corruption campaign targeting officials and princes in the oil-rich kingdom to see whether it will help them win back what they lost.(AP Photo/Hassan Ammar)
In this picture taken Wednesday, Nov. 15, 2017, a Lebanese flag waves in front the Four Seasons in Beirut, Lebanon. Lebanon-based businessmen and a media mogul who lost business in Saudi Arabia or through dealings with members of the royal family are watching an anti-corruption campaign targeting officials and princes in the oil-rich kingdom to see whether it will help them win back what they lost.(AP Photo/Hassan Ammar)
In this picture taken Wednesday, Nov. 15, 2017, Lebanon-based U.S. citizen Yahya Lotfi Khader shows documents during an interview with Associated Press in Beirut, Lebanon. Lebanon-based businessmen and a media mogul who lost business in Saudi Arabia or through dealings with members of the royal family are watching an anti-corruption campaign targeting officials and princes in the oil-rich kingdom to see whether it will help them win back what they lost. (AP Photo/Hassan Ammar)
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