Palestinian economics: Abbas stealing millions in aid, Middle East experts say

(WFB) Palestinian Authority President Mahmoud Abbas has allegedly deposited nearly $13 million in U.S. taxpayer aid into a secret bank account, and routinely uses his political connections to profit from the stagnant peace process, according to testimony presented to Congress Tuesday by several Middle East experts.

Abbas has enriched himself during his seven years in office through secret land deals, and helped his two sons earn millions of dollars through their stakes in companies that profit from U.S. assistance, the experts said during a House Foreign Affairs Committee hearing entitled “Corruption within the Palestinian Political Establishment.

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