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Yasser Arafat diverted nearly $1 billion in public funds to insure his political survival, but a lot more is unaccounted for.
Jim Prince and a team of American accountants - hired by Arafat's own finance ministry - are combing through Arafat's books. Given what they've already uncovered, Arafat may be rethinking the decision. Lesley Stahl reports.
"What is Mr. Arafat and the Palestinian Authority worth today?" asks accountant Jim Prince. "Who is controlling that money? Where is that money? How do we get it back?"
So far, Prince's team has determined that part of the Palestinian leader's wealth was in a secret portfolio worth close to $1 billion -- with investments in companies like a Coca-Cola bottling plant in Ramallah, a Tunisian cell phone company and venture capital funds in the U.S. and the Cayman Islands.
Although the money for the portfolio came from public funds like Palestinian taxes, virtually none of it was used for the Palestinian people; it was all controlled by Arafat. And, Prince says, none of these dealings were made public.
Ross says, "Arafat used to say to me, 'Where's my money? You need to go to the Saudis and get my money.' It was never the Palestinians' money."
Originally posted by captaintyinknots
So, the Anti-Israel crowd is irrational and over the top because they keep posting threads on the subject.....
well, this is the third thread crying about Israel-bashers that I have seen in the last 2 hours on here.
Where the separation? What's the difference? Is it not just as over the top, just from the opposite point of view?
Truth be told, this thread is exactly the same as those are....
Dozens of countries met yesterday to pledge billions of dollars in aid to the Palestinians in support of Western-backed President Mahmoud Abbas, but disputes with Israel on settlements and checkpoints darkened the mood.
French President Nicolas Sarkozy urged the 68 visiting states to be generous at the one-day conference, the financial sequel to last month's Annapolis meeting that launched the first peace talks between Israelis and Palestinians in seven years.
The Palestinian government is seeking $5.6 billion over three years at the aid meeting - funds designed to revive the moribund Palestinian economy and strengthen Abbas in a power struggle with Hamas Islamists while he negotiates with Israel.
Originally posted by Matrix Rising
Billions are always going to Palestine but it never gets to the Palestinian people.
Dozens of countries met yesterday to pledge billions of dollars in aid to the Palestinians in support of Western-backed President Mahmoud Abbas, but disputes with Israel on settlements and checkpoints darkened the mood.
French President Nicolas Sarkozy urged the 68 visiting states to be generous at the one-day conference, the financial sequel to last month's Annapolis meeting that launched the first peace talks between Israelis and Palestinians in seven years.
The Palestinian government is seeking $5.6 billion over three years at the aid meeting - funds designed to revive the moribund Palestinian economy and strengthen Abbas in a power struggle with Hamas Islamists while he negotiates with Israel.
There's always billions flowing into Palestine and the people live like it's 2,000 B.C.
People like Jimmy Carter and the I hate Israel crowd never complain about the billions in aid that never gets to the Palestinian people.
This is why there will never be Peace. It doesn't make any sense for those crooks running Palestine to make Peace as long as the useful idiots in the I hate Israel crowd will keep sending them Billions and they will keep spending it while blaming Israel for everything.
When it comes to Israel, there's this irrational and twisted hate for them.
The I hate Israel crowd never complains about the billions given in Aid to Palestine that falls into a black hole and is spent by those who are in charge in Palestine.
Israel isn't perfect, but this irrational, I hate Israel or let's blame Israel for everything crowd is truly what I call Hitler sick.
Originally posted by LDragonFire
So attempting to compare modern Israel to Nazi Germany based on the facts today is hate?