And this explains why the Swiss backed out of their agreement to go public with investors records--In the UK, the SFO launched its own inquiry in 2004. Its investigators started to get close to the Saudi royal family, uncovering evidence of huge sums being paid to Swiss bank accounts linked to middlemen including the well-connected billionaire Wafic Said.
In September 2006, the Swiss were preparing to disclose the bank records to the SFO. The firm and its lobbyists started a public campaign warning that huge numbers of arms-manufacturing jobs could be lost."
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