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corporate crime
by leon on February 12, 2008

Prince Bandar of Saudi Arabia, the former Saudi ambassador to the US, has been one of the key figures in the BAE-Saudi bribery scandal. One of the biggest allegations was that Britain's Ministry of Defense knew of and approved bribes of more than £1 billion ($US1.95 billion) from arms manufacturer BAE Systems to Prince Bandar of Saudi Arabia over the Al Yamamah arms deal. Basically, the claim is that Bandar received secret payments for over a decade for negotiating the deal.
As expected, Bandar has denied the allegations.
But now the heat is on him with The Times reporting of a court order freezing some of his US assets, as part of a class-action lawsuit over the bribery allegations. Those assets include Hala ranch, in Pitkin County, Aspen, Colorado valued at $135 million.
Bandar has close relationships with President Bush and vice president Dick Cheney.
This scandal runs deep.
Permalink: BAE-Bandar blues
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Mr Wong
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Prince Bandar, the former Saudi ambassador to the US, has been one of the key figures in the BAE-Saudi bribery scandal. Now the heat is on him with a court order freezing some of his US assets, as part of a class-action lawsuit over the bribery allegat...
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Corporate Vigilance
Welcome to the February 24, 2008 edition of Corporate Vigilance presenting an array of opinions, instruction, and helpful information as it relates to business.
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