Saudi govt seizes SAR 400 bln assets in corruption settlement

Saudi Arabia's Supreme Anti-Corruption Committee has completed negotiations and settlement processes with individuals charged with corruption, Attorney General Sheikh Saud Al Mojeb said in a statement on Tuesday.

The estimated value of settlements currently stands at more than SAR 400 billion ($107 billion) represented in various types of assets, including real estate, commercial entities, securities, cash and other assets.

The total number of subpoenaed individuals reached 381, but 56 suspects are still in custody due to other pending criminal cases. Investigations will continue in accordance with relevant laws and regulations, the statement added.