Financial Crime World

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Saudi Arabia Embroiled in Embezzlement Scandal as Links to Former President Emerges

A recent police report has revealed a shocking connection between Saudi Crown Prince Mohammed bin Salman and an embezzlement scandal involving former Brazilian President Jair Bolsonaro.

The Investigation

The investigation, which was unsealed by Brazil’s Supreme Federal Court on Monday, alleges that a criminal organization attempted to sell luxury items, including those from Saudi Arabia, and laundered the proceeds through intermediaries. The report indicts 10 individuals, including:

  • Two of Bolsonaro’s lawyers
  • A retired army general
  • A former energy minister

The Stolen Jewelry

The stolen jewelry includes high-end items such as diamond necklaces, rings, watches, and earrings, some made by Swiss company Chopard, valued at $3.2 million. The items were allegedly given to Bolsonaro and his wife Michelle during their time in office.

  • Some of the luxury items were seized by customs officials in October 2021 after they were found in a government aide’s backpack returning from Riyadh.
  • The investigation found evidence of a criminal association aimed at embezzling gifts received by Bolsonaro and later selling them overseas to hide the origin and ownership of the proceeds.

Questions About Bolsonaro’s Relationship with Saudi Crown Prince

The scandal raises questions about the nature of Bolsonaro’s relationship with Saudi Crown Prince Mohammed bin Salman. The two were spotted together at a meeting in Osaka, Japan, in 2019. The jewelry in question includes items from Saudi Arabia, sparking concerns about potential gifts or bribes being used to influence Brazilian politics.

Next Steps

Brazil’s prosecutor general, Paulo Gonet, will analyze the report and decide whether to file charges against Bolsonaro, who has already been indicted for embezzlement, asset laundering, and criminal association.

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