Riyadh, Saudi Arabia – The CEO of the Royal Commission for AlUla, Eng. Amr Al-Madani, has been arrested on charges of misusing authority and money laundering involving SR206 million ($55 milion).
The Oversight and Anti-Corruption Authority (Nazaha) reported the arrest, stating that Al-Madani’s partners in a company were also apprehended.
Allegations against Al-Madani include abuse of power and money laundering related to securing contracts for the National Talents Company from King Abdullah City for Atomic and Renewable Energy through illicit means, Saudi Gazette said.
The purported misconduct occurred prior to Al-Madani’s entry into the government sector.
The total amount involved in the malpractice is reported to be $55 million. Despite formally leaving the company upon joining the government, Al-Madani is accused of retaining ownership and influencing the Royal Commission to recommend deals, allowing the company to secure projects worth SR12,98,923 (346,379). This is believed to have resulted in personal benefits for Al-Madani and profits for the company through one of his relatives.