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Seven on trial in France for 2014 attack on Saudi prince’s convoy in Paris

Seven men went on trial on Tuesday in Paris for the 2014 attack on Saudi prince’s convoy that saw them make off with bundles of cash, jewelry and diplomatic papers.
The prince left his suite at the George V hotel in the evening of August 17, heading to to Le Bourget airport north of Paris.
He was later followed by his official convoy of cars led by a Mercedes Viano van, which was forced to a halt by two stolen BMWs just as it entered the access ramp for the motorway leading to the airport.
The prince was already airborne as the heist unfolded, headed for Spain, Le Parisien daily reported.
Armed men wearing balaclavas stormed and hijacked the Mercedes, threw out its passengers and drove off. No shots were fired and nobody was harmed.
The stolen loot included 250,000 euros ($300,000 at current rates) in cash, another $300,000 in cash, luxury watches and documents.
Investigators suspected the assailants had help since they appeared to know exactly which car to target in the robbery.
The cars were later found torched in a small town northeast of Paris.
The paper said days earlier anti-gang police, suspicious of increased activity in the Paris underworld consistent with a planned robbery, had put some of the group’s members under increased surveillance.
As the formal investigation got underway, data from that surveillance helped police assemble evidence of the conspiracy, Le Parisien said.
Suspicions hardened when the alleged attackers started freely spending cash on holidays, cars and motorbikes. One suspect opened two convenience stores and another a shisha bar outside Paris.
Nine months after the heist, in May 2015, police arrested around a dozen people and later charged six of them, aged 27 to 51, with aggravated robbery.
Some of the men were from gritty housing projects near the French capital, while others were part of Roma communities. Most had police records involving violent robbery or drug trafficking.
A seventh suspect was arrested in 2017.
Only one of the accused, identified as Ludovic L., has admitted any wrongdoing, saying he had stolen the two BMWs used in the heist.
The suspects risk up to 30 years in jail if found guilty of the charges of “armed robbery in a gang” and “membership of a criminal conspiracy”.
The trial is to last just under three weeks.
source: AFP
Image source: Reuters
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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