Saudi princes deny money laundering claim


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Financial Times
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Thursday May 16 2013

Breaking News
 
Saudi princes deny laundering claim
A brother and nephew of Saudi Arabia's King Abdullah were involved in a scheme to launder millions of dollars, including to the Lebanese militant group Hizbollah, according to a London court claim filed by a former business partner.
Prince Mishal bin Abdulaziz al Saud, a former defence minister, and his son, Prince Abdulaziz, have rejected the allegations as "scandalous and outrageous". Their lawyers have argued that they amount to a malicious attack on their reputations and "extortion".
The allegations stem from a business dispute in the UK courts, which can be reported openly only now after a long battle by the princes' lawyers to keep the case private. The Financial Times and the Guardian opposed arguments for the case to be kept secret and on Thursday won an application for the right to inspect and report on the case.
http://link.ft.com/r/8P1R88/06XCQC/0GINVW/IIWWFQ/OFZAJI/KI/h?a1=2013&a2=5&a3=16
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