Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: World: Asia-Pacific
Front Page 
World 
Africa 
Americas 
Asia-Pacific 
Europe 
Middle East 
South Asia 
-------------
From Our Own Correspondent 
-------------
Letter From America 
UK 
UK Politics 
Business 
Sci/Tech 
Health 
Education 
Entertainment 
Talking Point 
In Depth 
AudioVideo 
Friday, 17 March, 2000, 18:55 GMT
Brunei prince's '£3bn spending spree'
jefri
Prince Jefri: The scandal could threaten the royal family
The youngest brother of the Sultan of Brunei, Prince Jefri Bolkiah, spent almost $3bn in the past 10 years on aircraft, yachts, cars and jewellery, a court heard.

The Sultan - one of the world's richest men - is suing his brother and 71 other people for allegedly squandering $16bn of oil-derived state reserves.


Sultan
The sultan is suing his younger brother
The prince denies the charge, but a BBC correspondent in the region says the inhabitants of Brunei may question the rule of the Bolkiah family, once they understand how much of the nation's wealth has been squandered.

The court granted Prince Jefri $300,000 a month living expenses - well above the $59,000 he was originally allowed, when his assets were frozen as a result of the civil lawsuit filed by the government.


Brunei
Population: 322,982 (July 1999 est)
Government: Constitutional sultanate
Chief of state: Sultan Hassanal Bolkiah
Elections: none; the monarch is hereditary
Religions: Muslim (official) 63%, Buddhism 14%, Christian 8% (1981)
Languages: Malay (official), English, Chinese
Independence: 1 January 1984 (from UK)
Facts: CIA
He had asked for a monthly allowance of about $500,000, saying he did not have enough to support his four wives, 17 children and 18 other adopted wards.

Prince Jefri resigned as finance minister in 1998 after the country's largest private company, Amedeo Development Corp, lost an estimated $16bn.

He was also stripped of his post as head of Brunei Investment Agency (BIA), which controls the overseas assets of the tiny sultanate on the northern tip of the south east Asian island of Borneo.



Brunei's accumulated oil riches are believed to be between $40bn and $60bn.

After more than a year of self-imposed exile in Europe and the United States, Prince Jefri recently returned to Brunei.

Now his passport has been taken away and he has been barred from leaving the country.

He lives in a separate palace away from the one where Sultan Hassanal Bolkiah and his family stay. Most of his wives and children live overseas.

Details of Prince Jefri's assets are not yet known, and the court has asked him to declare them in two months.

Search BBC News Online

Advanced search options
Launch console
BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
PROGRAMMES GUIDE
Asia-Pacific Contents

Country profiles
See also:

08 Mar 00 | Asia-Pacific
Battle royal in Brunei
29 Jul 98 | Asia-Pacific
Sultan of Brunei sacks brother
17 Sep 98 | Asia-Pacific
Royal riches and family embarrassment
Internet links:


The BBC is not responsible for the content of external internet sites

Links to other Asia-Pacific stories are at the foot of the page.


E-mail this story to a friend

Links to more Asia-Pacific stories