Saudi Arabia Releases Ethiopian Billionaire Al Amoudi

WSJ- Saudi authorities released billionaire Mohammed Hussein Al Amoudi after nearly 15 months of detention, Ethiopian officials said, the latest in a wave of prominent businesspeople to regain their freedom after being rounded up in November 2017.

Mr. Al Amoudi, born in Ethiopia and a Saudi citizen, was once
considered one of the world’s richest people, with a net worth of as
much as $15 billion, according to Forbes. But his still unexplained
detention raised questions about his ownership of a far-flung business
empire that includes Swedish oil assets, Ethiopian agriculture and Saudi
construction and real estate.

His release on Sunday was announced on
Twitter by the office of Ethiopian Prime Minister Abiy Ahmed, who had
pressed Saudi Crown Prince Mohammed bin Salman for Mr. Al Amoudi’s
release. Mr. Al Amoudi is Ethiopia’s richest man and biggest investor.

Mr. Al Amoudi was among hundreds of Saudi royals, businessmen
and government officials rounded up in late 2017 and initially held at
Riyadh’s Ritz-Carlton hotel. Saudi authorities said they were cracking
down on the country’s endemic corruption, but some involved said it was a
way for Prince Mohammed to consolidate power.

See Also:  Ethiopia – Billionaire Mohammed Al Amoudi 'Still Alive' and Charged With Graft

Other wealthy Saudi detainees had to pay large fees to procure
their freedom, as Saudi authorities said they were aiming to reach $100
billion in settlements from the corruption roundup.

A person familiar with Mr. Al Amoudi’s situation said: “He paid and he paid a lot” for his freedom.

Mr. Al Amoudi’s attorneys on Saturday specified that his
non-Saudi businesses remained independently managed but didn’t address
his considerable holdings inside the kingdom.

Saudi media representatives didn’t respond immediately to
questions about Mr. Al Amoudi. Saudi officials informally confirmed that
he has been freed.

Most Ritz detainees were released after a couple of months, but
Mr. Al Amoudi was among several dozen who were transferred to other
detention sites and held longer. Several have been released recently as
Saudi Arabia works to defuse an international human-rights uproar over
the killing of journalist Jamal Khashoggi at the hands of Saudi agents
in Istanbul.

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Saudi authorities last week released Jeddah billionaire Amr
Dabbagh, McKinsey consultants Hani Khoja and Sami al-Zuhaibi, and two
less prominent businessmen, The Wall Street Journal reported, citing
people familiar with the matter. Messrs. Dabbagh and Khoja had been
physically abused, the Journal reported.

Saudi officials didn’t return requests for comment at the time.

Mr. Al Amoudi’s detention sparked diplomatic discussions
between Ethiopia and Saudi Arabia and raised questions about his
treatment after he went months without speaking to business associates
or family.

On Saturday before his release, his attorneys confirmed that
Mr. Al Amoudi was alive, hadn’t been tortured and was living
comfortably. His attorneys said he hadn’t been charged formally with a
crime.

Source

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