Dutch construction firm Ballast Nedam accused of bribing Saudi kings

Between 1996 and 2003 Dutch construction company Ballast Nedam paid bribes to the Saudi kings Fahd and Abdullah, broadcaster Human reported on Monday based on documents from the Tax Authorities' investigative department FIOD. All in all Ballast Nedam paid 500 million dollars to members of the Saudi royal family, according to the broadcaster.

The company and the Public Prosecutor reached a 17.5 million euros settlement on this bribery case in 2012.

But according to Human, the FIOD documents reveal new details. In exchange for construction contracts, Ballast Nedam paid bribes to legal entities in Liechtenstein, the British Virgin Islands, Cyprus and Jersey, among other places. These legal entities funneled the money to the Saudi kings, according to the broadcaster.

Ballast Nedam would not respond to questions posed by Human. The company did state that integrity guidelines were implemented to avoid recurrence.