Tuesday, April 5, 2016

Fall of the House of Saud? - Panama Papers

Perhaps this is all from before he became King but perhaps the offshore accounts bulging since his coronation is an insurance policy against any midnight coups of Young Saudi (Turks) officers looking to overthrow the extremely corrupt House of Saud. Could happen very soon?

Became king in January 2015 after the death of his brother Abdullah bin Abdulaziz. Britain marked the death by flying flags at half-mast over the Houses of Parliament, Buckingham Palace and Downing Street.

The Panama Papers say: "King Salman held an unspecific role in Luxembourg company Safason Corporation SPF S.A., which was the shareholder of Verse Development Corporation, incorporated in the British Virgin Islands in 1999, and Inrow Corporation, incorporated in 2002. Inrow took out a mortgage in 2009 worth up to $26 million and Verse took out a second mortgage worth more than $8 million both of which were for luxury homes in central London. While King Salman's precise role is not specified, both mortgages are mentioned "in relation to" him and his assets. King Salman was also described as "the principal user" of a motor yacht, Erga, named after the King's palace in Riyadh, Saudi Arabia, and registered in London by the BVI company Crassus Limited, incorporated in 2004."


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