According to the Middle East Monitor, Saudi authorities have transferred the remaining detainees, including the Ethiopian born Saudi tycoon, sheik Mohammed Hussein Al-Amoudi, to Al-Ha’ir prison.
ENGIDU WOLDIE | ESAT NEWS
The Ethiopian born Saudi tycoon, Mohammed Hussein Al-Amoudi and all the remaining detainees that were held at the Ritz-Carlton hotel have been transferred to Al-Ha’ir prison, a maximum security prison south of Riyadh. Continue reading Mohammed Al-Amoudi Transferred to Maximum Security Prison
We’re talking about someone who owns 4.7% of Ethiopia’s economy, but …
At the end of the day, Sheik Mohammed Hussein Al-Amoudi shall be set free or has to bail himself out of the Saudi prison. Could his multi-billion dollar Ethiopia investments end up as collateral for his freedom? Bloody Egypt.
ABRAHA BELAY | ETHIOMEDIA
Saudi Arabia has Prince Miteb bin Abdullah, the 65-year-old son of the late King Abdullah and former head of the elite National Guard, after he agreed to pay released $1 billion to settle corruption allegations against him.
How about billionaire Mohammmad al-Amoudi? Is he able to pay $1 billion up front to secure his freedom?
Continue reading Can Al-Amoudi Pay a Billion Dollar to Win Back His Freedom?
Sheik Mohammed Hussein Al-Amoudi owns 4.7% of Ethiopia’s economy and employs 14% of its private workforce
Following the unprecedented purge, it is believed that many of the detainees will choose to cut deals with the Saudi authorities and win back their freedom. If Sheik Al-Amoudi is forced to cut a deal with the authorities, some of his substantial Ethiopian assets could end up as Saudi government properties. Damn Egypt.
ROGER BAIRD | IBTIMES
Saudi Arabia has arrested the country’s second richest man, Sheik Mohammed Hussein Al-Amoudi, as part of a wide-ranging ‘anti-corruption’ drive .
The specific charges against the 71-year-old Ethiopian-born billionaire, who holds Saudi citizenship are unclear, but he joins dozens of Saudi royal figures, ministers and businessmen being detained at the Ritz-Carlton in Riyadh.
Continue reading Why the Arrest of Saudi Arabia’s 2nd Richest Man is Causing Shockwaves in Ethiopia
Allegedly for his involvement in obtaining fictitious credits worth $4b from Saudi King Abdullah Fund for Agricultural investment to finance agricultural projects in Ethiopia.
According to Saudi the arrest of Mohammed Hussein al-Amoudi came after an in-depth investigation that reveals his involvement in obtaining fictitious credits worth four billion dollars from the Saudi King Abdullah Fund for Agricultural investment to finance agricultural projects such as rice in Ethiopia and the construction of a pier in the port of Djibouti to export this rice towards Saudi Arabia. These and other projects that have not been fulfilled, prompted authorities to arrest him and open an investigation in this file and a collection of other files. sources
Ethiopian born Saudi tycoon, Mohammed al-Amoudi, is among those arrested in Saudi Arabia as the Kingdom’s newly formed anti-corruption campaign targets princes, ministers and several other officials and businessmen. Continue reading Mohammed al-Amoudi Arrested for corruption in Saudi Arabia