(UPI/Washington Times) - Federal prosecutors are looking into the financial dealings of a Saudi billionaire family for possible tax fraud and ties to terrorism. The Wall Street Journal says the probe of the Al-Rajhi family began after it funneled large sums of cash into and out of the U.S. through offshore banks. U.S. Customs Service agent David Kane stated in a federal search warrant affidavit that a group of Virginia financiers working with the Al-Rajhi family "obstructed or attempted to obstruct" a federal tax audit of the transactions in 2000. Kane said the financiers, a group of prominent U.S. Islamic leaders, "maintained a financial and ideological relationship" with associates of the terrorist groups Palestinian Islamic Jihad and Hamas.
2003-10-18 00:00:00Full ArticleBACK Visit the Daily Alert Archive