{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Lebanese business watching new Saudi anti-corruption campaign' data-url='/boclips/videos/5c54d68fd8eafeecae204994' data-video-url='/boclips/videos/5c54d68fd8eafeecae204994' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nLebanese business watching new Saudi anti-corruption campaign\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eLebanon-based businessmen who lost enterprises through dealings with members of Saudi Arabia's royal family and others are closely watching a new campaign led by the powerful crown prince targeting princes and tycoons in the oil-rich...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eLebanon-based businessmen who lost enterprises through dealings with members of Saudi Arabia's royal family and others are closely watching a new campaign led by the powerful crown prince targeting princes and tycoons in the oil-rich kingdom.\u003cbr/\u003e              They hope it will help them win back what they lost over the years.\u003cbr/\u003e              Many in the kingdom believe that billions of dollars that used to be wasted annually will now go into state coffers rather than the pockets of powerful individuals. \u003cbr/\u003e              Others hope that such a move would encourage people to invest in the kingdom without fear that they could lose everything if their work is manipulated by a well-connected person.\u003cbr/\u003e              Since the first week of November, some 201 people have been taken into custody by Saudi authorities in a sweep that investigators say has uncovered at least 100 billion US dollars in corruption. \u003cbr/\u003e              The detainees include Cabinet ministers, members of the royal family, the owners of three TV networks that are among the largest in the Middle East.\u003cbr/\u003e              The crackdown that began on Nov. 4, initially targeted 11 princes, 38 officials, military officers as well as business leaders. An estimated 1,700 individual bank accounts have been frozen.\u003cbr/\u003e              The campaign is led by the powerful Crown Prince Mohammed bin Salman, who is also known by his initials MBS. \u003cbr/\u003e              Saudi critics and experts have called the unprecedented purge of top princes and businessmen a bold and risky move by MBS aimed at consolidating power as he keeps an eye on the throne, sidelining potential rivals and dismantling alliances built with other branches of the royal family.\u003cbr/\u003e              Pierre El-Daher who founded the first private TV station in Lebanon in 1985 and turned it into a widely-watched media outlet throughout the Arab world has been locked in court cases with detained Saudi Prince Alwaleed bin Talal, one of the world's richest men, since 2011. \u003cbr/\u003e              The powerful prince whose maternal grandfather Riad Solh was Lebanon's prime minister and also holds Lebanese citizenship, has investments that include Twitter, Apple, Citigroup, and the Four Seasons hotel chain and was once a significant shareholder in Rupert Murdoch's News Corporation, but sold much of those shares in 2015.\u003cbr/\u003e              Their court battles are over the Lebanon's leading LBC and the Production and Acquisition Company, widely known as PAC, which filed for liquidation in 2012. \u003cbr/\u003e              Some 400 PAC employees lost their jobs and still waiting for Alwaleed to compensate them.    \u003cbr/\u003e              Alwaleed and El-Daher, now chairman and CEO of LBC, were once allies when the prince pumped money into LBC TV before splitting over several issues and El-Daher was removed from his job as head of PAC. \u003cbr/\u003e              Alwaleed ended up taking over the LBC SAT and PAC while El-Daher took LBC.\u003cbr/\u003e              Several cases between the two are still ongoing in countries including Lebanon, Britain and the Cayman Islands. \u003cbr/\u003e              Daher says that he is suing Alwaleed for more than 100 million US dollars and is optimistic they will win.\u003cbr/\u003e              Lebanese media outlets reported this month that two Beirut hotels owned by Alwaleed bin Talal's Kingdom Holding are for sale. \u003cbr/\u003e              The Four Seasons and Mövenpick Hotel are among Beirut's most luxurious hotels and are located in two of the capital's smartest neighbourhoods.\u003cbr/\u003e              Paul Morcos, legal expert and founder of Justicia Consulting Law firm in Beirut said that it is difficult to sue somebody in one country for an action that took place in a different country.\u003cbr/\u003e              Another person who lost millions of dollars in the kingdom as a result of alleged corruption is Lebanon-based US citizen Yahya Lotfi Khader who for more than 20 years ran petrochemical businesses along with his two partners in eastern Saudi Arabia.\u003cbr/\u003e              The Syrian-born 57-year-old businessman said he left the kingdom two years ago after he became the victim of interference by officials who worked in the office of a once powerful prince Saoud bin Nayef, the brother of the former crown prince who was removed from his post earlier this year. \u003cbr/\u003e              Khader put forward documents that proves they have lost tens of millions of dollars in case that he says were manipulated by powerful people in the kingdom.\u003cbr/\u003e              Khader said Saudi Arabia has all the capabilities to become one of the most important countries in the world if it can fight corruption.\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              Beirut - 16 November, 2017\u003cbr/\u003e              1. Pan of Master Control Room at LBC Television\u003cbr/\u003e              2. Close of screens\u003cbr/\u003e              3. Producer typing\u003cbr/\u003e              4. Director watching\u003cbr/\u003e              5. Various of journalists in the newsroom\u003cbr/\u003e              6. Owner of LBC TV Pierre El-Daher entering his office\u003cbr/\u003e              7. Close of hands signing papers\u003cbr/\u003e              8. SOUNDBITE (Arabic) Pierre El-Daher, Owner of LBC TV:\u003cbr/\u003e              \"What happened is Saudi Arabia is a game changer that scrambles all the issues on the political, economic, social and religious levels. There is a certain way that Saudi was ruled with but now we are in new Saudi Arabia that is totally different from the past. It is still early to judge it, it is something new.\"\u003cbr/\u003e              9. Close of hands\u003cbr/\u003e              10. SOUNDBITE (Arabic) Pierre El-Daher, Owner of LBC TV:\u003cbr/\u003e              \"Alwaleed (Saudi Prince Alwaleed bin Talal) has behaved disgracefully by making the company (PAC) bankrupt fraudulently, when it was not bankrupt, as it had assets. PAC was able to continue normally, but he made up that bankruptcy.\"\u003cbr/\u003e              10. Beirut skyline\u003cbr/\u003e              11. Tilt down of the Four Seasons Hotel\u003cbr/\u003e              12. Dr. Paul Morcos entering his office\u003cbr/\u003e              13. SOUNDBITE (English) Dr. Paul Morcos, Legal Expert: \u003cbr/\u003e              \"It is very difficult to sue somebody for an act that has been executed in a different country. What you can make which is easier is to a have a verdict or a judgement at you place and then send it to another country for execution. In this case you might garnish assets that are being held elsewhere by virtue of the judgement of the verdict that you get it from here in Lebanon.\"\u003cbr/\u003e              14. Tilt down of buildings in Beirut\u003cbr/\u003e              15. Pan of businessman Yahya Khoder (left)\u003cbr/\u003e              16. Close of documents\u003cbr/\u003e              17. SOUNDBITE (Arabic) Yahya Khodor, businessman: \u003cbr/\u003e              \"There is widespread corruption from princes to ministers to judges to lawyers to businessmen. At the same time, there are a lot of good people in Saudi Arabia, very kind people, but unfortunately there are certain people who are exploiting the capacities and the treasures of the Kingdom and they are diverting it in the wrong direction.\"\u003cbr/\u003e              18. Cutaway hands\u003cbr/\u003e              19. SOUNDBITE (Arabic) Yahya Khodor, businessman: \u003cbr/\u003e              \"I think that the first step taken by Crown Prince Mohammad Bin Salman is a proper step in fighting corruption. I'm an investor and investors are called 'cowards' (because they are risk averse) because it is their money and they need to make sure that their investments will generate income, and that they get it (their investment) back in the proper way. So the most important thing for us (investors) is to have justice.\"\u003cbr/\u003e              20. 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