Arafat diverted $900 million
Yasser Arafat diverted 19 percent of Palestinian authority revenues from 1995 through 2000.
"...Disclosure of the amount diverted is part of increased transparency by the Palestinian Authority to help boost its economy and encourage foreign investment. The finance ministers of the Group of Seven industrialized nations pledged at the Dubai meetings to work with the Palestinian Authority to develop a plan that may include financial assistance, the ministers said in a statement.
"Of the money sent to accounts controlled by Arafat and his financial adviser Mohammed Rashid, about $700 million has been accounted for and is in investments held by the Palestinian Authority, Nashashibi said. He said the $200 million gap may represent a decline in investment value, rather than a further diversion of money by Arafat."
Yasser Arafat diverted 19 percent of Palestinian authority revenues from 1995 through 2000.
"...Disclosure of the amount diverted is part of increased transparency by the Palestinian Authority to help boost its economy and encourage foreign investment. The finance ministers of the Group of Seven industrialized nations pledged at the Dubai meetings to work with the Palestinian Authority to develop a plan that may include financial assistance, the ministers said in a statement.
"Of the money sent to accounts controlled by Arafat and his financial adviser Mohammed Rashid, about $700 million has been accounted for and is in investments held by the Palestinian Authority, Nashashibi said. He said the $200 million gap may represent a decline in investment value, rather than a further diversion of money by Arafat."
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