Arafat stole $5.1 million
Arab daily describes Yasser's 'theft' of funds meant for needy Palestinians
Palestinian leader Yasser Arafat personally pocketed over $5 million in foreign aid money intended for needy Palestinians, depositing it into his personal bank account, according to the Arab daily Al-Watan.
Even worse, the newspaper claims Arafat also diverted aid money from Arab states – earmarked for those who had lost homes in the recent Israeli incursion into the West Bank – and invested it to increase his stock holdings in a concrete company, thereby profiting from rising concrete prices resulting from increased demand for construction materials to rebuild the destroyed Palestinian housing.
Last Friday's edition of Al-Watan published the following report. It was translated by the Middle East Media Research Institute, or MEMRI:
Yesterday, Al-Watan received documents from private sources in the Cairo branch of an Arab bank showing that Yasser Arafat had deposited in his name $5.1 million into a personal account. According to sources, this is theft of Arab aid funds allocated to the Palestinians through an arrangement between Arafat and his Cairo office head Ramzi Khouri.
The sources added that according to the documents, these funds were deposited in the personal accounts of President Arafat to cover some of the president's personal expenses, including the costs of his wife Suha and their daughter who live in Paris and Switzerland.
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