Spain seizes Assad family properties worth $740 million in Marbella

Spain’s highest court has seized Rifaat al-Assad’s real estate portfolio worth $740 million that are composed of 503 properties, including vacation homes, country luxury apartments and a farm, mainly in the coastal city of Marbella and its luxury yacht marina, Puerto Banus.

The laundering investigation was carried out jointly by France and Spain, according to a release from the National Court.

Rifaat al-Assad, 79, an uncle of President Bashar al-Assad of Syria , was expelled from Syria in 1984 after a power struggle to determine who would eventually succeed his older brother, President Hafez al-Assad, the father of the current president. He has mostly lived in exile since then.

 

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