Suspicious Saudi billionaire set up shop near premier’s house

One of Ghaith Pharaon Saudi billionaire’s businesses recently bought property next to a house owned by Prime Minister Viktor Orban. Pharaon has numerous ties to the Hungarian oligarchy, and has a questionable international reputation, which is best indicated by the fact that the FBI is also interested in his dealings.

According to a recent report, Pharaon-Delta Kft, one of numerous firms owned by Saudi billionaire Ghaith Pharaon, purchased a property that is situated in the direct vicinity of a house owned by Prime Minister Viktor Orban.

Pharaon has extensive interests in Hungary, mostly through real estate acquisitions and direct dealings with Istvan Tiborcz, Orban’s son-in-law. Atlatszo.hu recently covered Pharaon’s local businesses in detail.

Moreover, he is also suspected of involvement in a number of international money laundering cases, fraud, as well as ties to the financing of terrorist groups. The Startfor letters exposed on WikiLeaks in 2012 refer to him as “nothing more than a front man who does dirty things on behalf of Saudi Arabia.”

The Hungarian government and the authorities know about this, which is evidenced by the fact that the Federal Bureau of Investigation (FBI) asked for details about Pharaon. After overcoming some difficulties in ascertaining identities and agreeing that Pharaon is indeed the person in question, the Hungarian authorities compiled a report for their colleagues in the FBI. The report also clarifies that the Hungarian authorities are familiar with Pharaon’s local dealings.

Original article in Hungarian

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