Participants stand next to a picture of Saudi Crown Prince Mohammed bin Salman during the Misk Global Forum in Riyadh, Saudi Arabia, November 15, 2017. REUTERS/Faisal Al Nasser
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One businessman had tens of millions of Saudi riyals withdrawn from his account after he signed.The Saudi government earlier this week moved from freezing accounts to issuing instructions for "expropriation of unencumbered assets" or seizure of assets, said a second source familiar with the situation.There was no immediate comment from the Saudi government on the deals and the sources declined to be identified because these agreements are not public.The deficit, which hit $98 billion in 2015, is shrinking but at a high cost to the economy – data in late September showed Saudi Arabia in recession during the second quarter.The Saudi government has in recent years been pressing wealthy individuals to invest more in the kingdom and bring home some of their wealth from overseas.Funds started selling Middle East bonds early this month after Saudi Arabia detained dozens of senior officials and businessmen in an unprecedented crackdown on graft.
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