... of terrorist supporters.
"There's a sucker born every minute." -- P.T. Barnum
July, 2002 -- Prince Walid bin Talal of Saudi Arabia, who delights in being known as the Middle East's Warren Buffett, bought $500 million more shares of Citigroup stock, saying the shares are ''very tempting'' after losing 27 percent of their value this year. ''Citigroup is very cheap, too cheap at current prices,'' said the prince, the 45-year-old nephew of [then] King Fahd. [CIT closed at $1.61 a share on Friday.]
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Saudi families may default on their debt
AHAB is suing Sanea in a case involving allegations of $10 billion in financial irregularities, a legal battle that reached U.S. courts and raised questions about Saudi banks' lending practices.
Some bankers say the total cost of writedowns from Saad and AHAB may hit $22 billion and affect 120 banks including Citigroup Inc.
In addition, the Saad group involved in infrastructure among other businesses may file for bankruptcy. -- Story
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Saudi charity funding pro al-Qaeda terror outfits in Pakistan
A Saudi Arabian charity has funded 15 million dollars to a pro al-Qaeda militant organization to carry out terror attacks in Pakistan, Pakistani police has claimed.” The Tehrik-e-Taliban Pakistan is likely to strike major cities of the Punjab.
According to the report, a major chunk of funds gathered by Al-Haramain Foundation goes to fund terror activities of the Tehrik-e-Taliban Pakistan. The Al-Haramain Foundation has been banned by the UN Security Council for its links to al-Qaeda.
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Offices of these three leading Saudi charities played key roles in moving millions of dollars to jihadists, terrorists, or insurgents in some 20 countries.
MUSLIM WORLD LEAGUE
Est. annual budget: $45 million
Branch offices: 36
Terror ties: Early '90s, Manila branch sends cash to Islamic guerrillas in Philippines; 2001-02, MWL's Rabita Trust affiliate designated as terrorist group by U.S. for al Qaeda ties; 2002, federal agents raid U.S. offices of MWL in terrorist financing case.
AL HARAMAIN FOUNDATION
Est. annual budget: $53 million
Branch offices: 50
Terror ties: 1996, CIA links group to Egyptian extremists and Bosnian jihadists; 1999, Moscow claims group transferred money and arms to Chechen rebels; 2002, staffer nabbed at Manila airport with explosives; 2003, U.S. says branches in 10 countries provide arms or cash to terrorists.
INTERNATIONAL ISLAMIC RELIEF ORGANIZATION
Est. annual budget: $46 million
Branch offices: 80
Terror ties: Early '90s, Manila branch funnels cash to Abu Sayyaf and Moro Islamic Liberation Front; 1996, CIA reports funding of jihadists in Balkans and Afghanistan, and ties to Algerian and Egyptian extremists, al Qaeda, and Hamas; 1998, FBI traces suspected Hamas money in Chicago to IIRO; 1999, staffer suspected in bomb plot admits IIRO funds Afghan terror training camps.