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Of Saudi princes and gilded cages

Tom Fox | March 14, 2018

If you have done business in Saudi Arabia or with wealthy Saudis over the past few years, now might be a very good time to review not only those business relationships, but also your FCPA compliance program. Since November, the current Saudi Arabian government has had billions of dollars transferred to it by very wealthy, connected Saudi businessmen through hook, nook, crook, and perhaps a fair amount of coercion.

A recent report detailed some of the events around the detention of wealthy Saudis back in November, led by the new Crown Prince, Mohammed bin Salman (MbS). It may have all been an internal royal family feud, but the wider effect has been a transfer of over $100 billion worth of goods and property from the detained individuals back to the Saudi government.

What does all this mean for any U.S. company that may have been doing business with any of...

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