France probes Assad’s uncle’s fortune following corruption claims



PARIS // The Paris prosecutor’s office has opened an investigation into the real estate holdings of Syrian president Bashar Al Assad’s uncle after international watchdogs accused him of corruption.

Sherpa and Transparency International filed a complaint earlier this month, alleging that Rifaat Assad was worth several million euros and that the sum was far beyond what he earned as a Syrian military commander or as the country’s vice president. The complaint alleges that this fortune, including several dozen Paris apartments and a luxurious townhouse, was built by stealing from Syrian public funds and by abusing his power.

The prosecutor’s office opened a preliminary investigation on Monday.

In 2011, Rifaat Assad told The Associated Press that he had lost all his money in the stock market and lived off the largesse of his children.

* Associated Press

Results

6.30pm Madjani Stakes Rated Conditions (PA) I Dh160,000 1,900m I Winner: Mawahib, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)

7.05pm Maiden Dh150,000 1,400m I Winner One Season, Antonio Fresu, Satish Seemar

7.40pm: Maiden Dh150,000 2,000m I Winner Street Of Dreams, Pat Dobbs, Doug Watson

8.15pm Dubai Creek Listed Dh250,000 1,600m I Winner Heavy Metal, Royston Ffrench, Salem bin Ghadayer

8.50pm The Entisar Listed Dh250,000 2,000m I Winner Etijaah, Dane O’Neill, Doug Watson

9.25pm The Garhoud Listed Dh250,000 1,200m Winner Muarrab, Dane O’Neill, Ali Rashid Al Raihe

10pm Handicap Dh160,000 1,600m Winner Sea Skimmer, Patrick Cosgrave, Helal Al Alawi

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani