King hid personal wealth in Credit Suisse accounts – media — Analysis

Leaked information from the Swiss financial institution present King of Jordan Abdullah II positioned his private funds in at the least six accounts

Jordan’s monarch, King Abdullah II, has been named within the leaked trove of knowledge from Credit score Suisse financial institution, because the holder of at the least six accounts the place he has housed thousands and thousands of {dollars} in private wealth, The Guardian reported on Monday. Alongside Abdullah’s personal accounts, his spouse, Queen Rania, allegedly had one other.

The leaked information in regards to the Credit score Suisse accounts comes months after the monarch was featured within the Pandora papers, one other leak of knowledge which revealed King Abdullah’s property portfolio, together with premises in California and central London.

A spokesperson for Jordan’s king and queen acknowledged there was no wrongdoing on behalf of the pair, claiming that the supply of their funds was fully compliant with the related tax laws. Underneath Jordanian regulation, King Abdullah is exempt from paying taxes.

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In response to the monarch’s attorneys, a big proportion of the funds held inside his Credit score Suisse accounts had been derived from the inheritance he acquired from his father, King Hussein. The regulation in Jordan exempts the king from paying inheritance tax as effectively.

Throughout the launch of the Pandora papers, the UK media claimed that Jordanian intelligence forces had sought to dam entry to on-line tales in regards to the monarch’s wealth. King Abdullah’s attorneys have denied this suggestion. It’s not identified if any comparable makes an attempt have or are set to be made within the wake of the most recent revelations.

King Abdullah’s attorneys acknowledged that solely one of many monarch’s Credit score Suisse accounts stays open, comprising funding firms established to function a belief fund for his or her youngsters, in addition to utilizing the financial institution to carry proceeds from the sale of a “massive extensive physique plane.”

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