Is Arafat’s Secret Fortune In The Cayman Islands?
The late PLO Leader, Yasser Arafat
HBN, WEST BANK, Palestine, Weds. Nov. 17: Former Palestinian Authority leader, the late Yasser Arafat, allegedly hoarded money from fundraisers in the Caribbean and now PA officials want to find those accounts.
Arab News reports indicate that Palestinian Authority officials want financial detectives, Scots-Morseby, to trace bank accounts, stocks, bonds and real estate of its late leader, which are allegedly located in Cayman Islands, Austria, Belgium, Switzerland, France, Sweden, Greece and Bulgaria.
AN says the decision was made after Arafat’s wife Suha, and his chief financial adviser, Muhammad Rashid, refused to produce a full report on secret funds held on behalf of the Palestinian Authority.
A European Union audit of Palestinian Authority finances, conducted in the years 2002-2003, shows that Arafat had a secret personal budget of $80 million a year which he could spend as he pleased without leaving any documentary trace, according to the news service.
Since he signed the Oslo accords, Arafat has been in control of billions of dollars channeled to the Palestinian Authority, according to the paper. Some funds came from Israel in the form of customs duty collected on behalf of the PA. The European Union, for its part, contributed an average of $800 million a year. The authority has also received an undisclosed amount of donations from a number of Arab countries and charities. – Hardbeatnews.com
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