Syria's $12B Reserve Registered to Hafez al-Assad

The article focused on the memoirs of the late Syrian Vice President Abdelhalim Khaddam, revealing a major financial scandal in Syria during Hafez al-Assad's era. The scandal involves the illegal use of a sum of $12 billion from the state’s reserve, registered in the President’s personal name, which constitutes unlawful activity and widespread financial corruption. The memoirs detail how $65 million was illicitly withdrawn from an account under Prime Minister Mahmoud Zulfi’s name, who was forced to return the money before he was declared dead by suicide in 2000 amid accusations of treason. The memoirs also cover other corruption cases, including aircraft purchase contracts and lawsuits filed against opponents of those deals, highlighting an environment of pervasive corruption and political unrest within the Syrian government during that period.

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