He was already a proud owner of a super-yacht costing US$550 million before being exposed as the lucky guy who splashed a whopping US$450.3 million on Leonardo da Vinci’s “Salvator Mundi”. It was rather strange for a Muslim spending a fortune on a painting depicting Jesus Christ as a Renaissance man dressed in flowing blue robes – as if he is a Christian.

 

He is, of course, none other than Crown Prince Mohammed bin Salman, a 32-year-old favourite son of King Salman, who has been named as the successor to the throne of the Kingdom of Saudi Arabia. Back in 2015, the prince spotted the luxury yacht off the coast of south of France, and instantly dispatched his aide to buy it from Russian Stolichnaya vodka tycoon Yuri Shefler.

 

Wait a minute! Was it halal (permissible) in the first place to buy a yacht from a “Kafir” whose business involved alcohol, which is haram (forbidden) in Islam? After all, the deal was done within hours and the Saudi prince was the new owner within the same day Mr. Shefler agreed to sell. To hell with Islam!! He came, he saw and he bought “Serene”, one of world’s biggest super yachts.

Serene was rented by Microsoft Bill and Melinda Gates for their holiday 3 years ago at a reported cost of US$5 million per week. More importantly, Crown Prince Mohammed loves the luxury yacht as it comes with 1 master suite, 1 VIP stateroom, 10 double cabins, 1 twin cabin, a cinema, a Gym, a Jacuzzi, lift (elevator), 2 hot tubs – and even a nightclub.

 

Built by Italian shipyard Fincantieri, Serene was delivered to Yuri Shefler in August 2011 (then one of top-10 largest yachts in the world) for US$330 million. So, the Russian made a cool US$220 million (66% or two-thirds profit) after owning it for 4 years. Not a bad ROI (return on investment) considering the vodka tycoon made on average US$55 million a year from his yacht.

 

Now, the Saudi Arabia’s future king has been exposed as the actual owner of another trophy – world’s most expensive house Chateau Louis XIV. Armed with gold-leafed fountain, marble statues and hedged labyrinth set in a 57-acre landscaped park, the house was sold at a mind-boggling US$300 million in the same year he bought “Serene”. Like the “Salvator Mundi”, the identity was kept secret – until now.

An investigation by the New York Times shows paper trail leading to ownership through a series of shell companies in France and Luxembourg that eventually traced back to Eight Investment Company, a Saudi firm managed by Salman’s personal foundation managers. Interestingly, Eight Investment Company was the same company used by the prince to buy “Serene” super yacht.

 

A stash of records leaked from a Bermuda law firm, also known as the Paradise Papers, revealed how battalions of lawyers, bankers and accountants in Germany, Bermuda and the Isle of Man worked furiously to quickly transfer ownership of “Serene” super yacht to Eight Investment – so that the Saudi prince’s impulsive lavish spending could be satisfied.

 

Previously, when the Saudi prince was exposed as the actual buyer of da Vinci’s “Salvator Mundi”, it was revealed that the U.S. Intelligence Community has been closely monitoring the activities of the 32-year-old prince. It appeared that the U.S. wasn’t convinced that their ally Saudi Arabia is serious about fighting corruption under Mohammed bin Salman.

Bruce Riedel, a former CIA officer and leading expert on Saudi politics, said – “The image of the crown prince spending that much money to buy a painting when he’s supposed to be leading an anti-corruption drive is staggering.” Now, Bruce said – “He has tried to build an image of himself – that he is different, that he’s a reformer and that he’s not corrupt. But this is a severe blow to that image.”

 

The France chateau, located in Louveciennes near Versailles, was once considered by Kim Kardashian and Kanye West for their wedding in 2014. The opulent estate, built between 2008 and 2011, boasts 10 super-luxurious guests suites, its own nightclub, indoor squash court, sauna and health spa, indoor/outdoor swimming pool, movie theatre, gourmet kitchen and extensive wines cellars.

 

Chateau Louis XIV is just 20 minutes away from central Paris. The chateau, built under 17th-century design but 21st-century technology, has sound system, lights and whisper-silent air conditioning which can all be controlled remotely by iPhone. Heck, there is even an underwater room with a transparent ceiling gazing up into the chateau’s moat

Eight Investment Company also recently bought a 620-acre estate in Condé-sur-Vesgre, known as Le Rouvray, an hour’s drive from Paris. But the simple fact that the chateau’s ownership was meticulously hidden through various shell companies suggests that there could be elements of corruption or money laundering, as the prince has been accusing other princes of.

 

Saudi’s anti-corruption committee – empowered to issue arrest warrants, impose travel restrictions,  trace funds, prevent transfer of funds, liquidation of assets and freeze bank accounts – was used by Crown Prince Mohammed to purge Al Saud family members who dared challenging his throne, as well as a powerful tool to replenish the drying coffers of the kingdom.

 

Of course, not a single one of those arrested and imprisoned in the “5-star Ritz Carlton Hotel” has ever been charged in court since their arrest. There was never a plan to put corrupt crooks behind bars in the first place. The purge was reportedly aimed to confiscate cash and other assets worth as much as US$800 billion (£610 billion; RM3.38 trillion).

Amusingly, Saudi’s anti-corruption crackdown comes with a special offer – 70% of assets in exchange for freedom – an offer that Prince Miteb bin Abdullah had taken and paid US$1 billion in corruption settlement. Again, the same question arises – should not the favourite son of King Salman be investigated, after the revelation of his extravagant purchases of a yacht, a painting and a house – amounting to US$1.3 billion?

 

Other Articles That May Interest You …

• Exposed!! – Saudi Crown Prince The Buyer Of $450 Million da-Vinci, And The Amazing Reason Why He Did It
• Saudi Crown Prince Offers Princes: “Gimme 70% Of Your Money And You Can Walk”
• Replenish Coffers – The $800 Billion Hidden Reason Behind Saudi Corruption Crackdown
• Game Of Thrones – Crown Prince Crackdown On Princes, Alwaleed Arrested For Corruption
• Saudi Prince Finally Admits Extremism, Promises A U-Turn Back To “Moderate” Islam
• Finally, Saudi Women Can Drive – Only Because They’re Needed To Boost Economy
• Arab VS Arab – The Hidden Reasons Why Saudi & Its Gang “Unfriend” Qatar
• The Glory Days Are Over – OPEC Warlord Saudi Has Started Borrowing

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December 18th, 2017 by financetwitter

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