
Brunei accused the sultan's brother of taking billions as finance minister, and the Privy Council ordered him to hand over his hotels
Prince Jefri Bolkiah, youngest brother of Sultan Hassanal Bolkiah, was Brunei's finance minister and head of the Brunei Investment Agency (BIA) for 13 years. After his Amedeo construction group collapsed in 1998, the government and the BIA sued him, alleging he had misappropriated about $14.8 billion of state funds†. Reports listed thousands of cars, hotels, jets and art. In a 2000 settlement he agreed to return assets in exchange for avoiding prosecution and keeping a home in Brunei. He then disputed which assets the deal covered. On 8 November 2007 the Privy Council in London, Brunei's final court of appeal, ruled for the BIA and ordered him to transfer six assets, including the New York Palace Hotel, the Hotel Bel-Air in Los Angeles, St John's Lodge in Regent's Park and properties in Paris and Singapore. The family dispute was between the ruler of the state and his own brother. Jefri later returned to Brunei†.
Where the state and the family fortune are run by the same people, the line between them is settled in court.
- nycourts.govCourt record
- thelawyer.comPress
- Tampa Bay TimesPress
Cite as: celebrity.estate, “Brunei accused the sultan's brother of taking billions as finance minister, and the Privy Council ordered him to hand over his hotels,” story s361, https://www.celebrity.estate/brunei-1998, updated 30 October 2026.
















































































































































