Heritage Foundation Leadership for America

Palestinian officials are scrambling to obtain access to ?more than $1 billion diverted from official Palestinian funds? by Yasser Arafat, the Washington Times reports. ?It's been his key to holding on to power and influence, and some of it may go to the grave with him? if the ailing leader dies, according to an unnamed Palestinian banker.

A report from the American Center for Democracy found that Arafat ?personally controlled 60 percent of the security-apparatus budget, which left him with?$360 million per year to spend as he chose? in addition to his personal holdings. Former Palestinian National Fund secretary-general Jawad Ghussein has revealed that Arafat siphoned off some $7.5 million to $8 million per month into his private bank account, compiling enough money ?to feed 3 million Palestinians for one year, and also buy 1,000 mobile intensive care units, as well as to fund 10 hospitals for a decade.?