The Arab Spring has drawn scrutiny to the wealth Arab elites had stashed abroad. A leak of bank data reveals how figures linked to regimes in Egypt, Libya, Syria, Jordan, and elsewhere held hundreds of millions at Credit Suisse before and after the uprising.
Credit Suisse customers included heads of state, royal families, ministers, spy chiefs, and government-connected businessmen from across the Arab world, the Organised Crime and Corruption Reporting Project said in a report.
The account holders came from over half-a-dozen countries hit by the Arab Spring protests, including Syria, Yemen, Libya, Algeria, Morocco, and Jordan.
These accounts, which provide a glimpse into the wealth held abroad by Arab elites in the decade before the uprising, were worth at least $1 billion (R15.15bn held in just one Swiss bank.…