Hassanal Bolkiah

He had open disagreements with his brother, Jefri Bolkiah, who owned a network of companies and investment vehicles under the name "Amedeo" run by his son, Prince Hakim, which was used to buy the luxury goods company Asprey and build an amusement park and other projects in Brunei. In July 1998 the Amedeo group collapsed under US$10 billion in debt. Between 1983 and mid-1998 some US$40 billion of what were called "special transfers" were made from the accounts of the Brunei Investment Agency (BIA). An independent investigation was undertaken into the circumstances of these special transfers, concluding that in round figures, US$14. 8 billion were paid to the accounts of Prince Jefri apart from the US$8 billion to accounts of the sultan and US$3. 8 billion for Government purposes. The destination, purpose and recipients of the remaining transfers were not established. Due to the secretive nature of the state and the blurred lines as to where the royal family's finances and the state finances began and ended, establishing the true course of events is very difficult.

His Majesty, Sultan Haji Hassanal Bolkiah Mu’izzaddin Wadd ...

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