Tuesday 12 June 2012

Revealed: Saudi royals' secret $1bn US empire - The Independent

A secret $1bn US property empire amassed by members of the Saudi royal family is the subject of a bitter legal dispute that threatens to reveal the extent of the family's American business interests.

The oil giant BP and the British defence contractor BAE Systems are among the tenants of companies associated with Prince Abdul Aziz bin Fahd, the playboy son of the late King Fahd, according to court documents.

Lawyers for the companies are asking a judge to keep their ultimate ownership secret, but correspondence between the two sides currently remains on the record in a New York courthouse.

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