The Yemeni capital Sana’a is witnessing mounting economic panic and a sharp collapse in the real estate market following the mass flight of major investment company owners, leaving the savings of thousands of families in jeopardy, according to local experts.
Latest developments, they added, indicate that the financial scandal is a direct consequence of rampant corruption and the absence of effective oversight under the Houthi rebels control.
According to informed sources, the collapsed firms had operated for years under the protection of influential figures within the Houthi-run administration in Sana’a, enabling them to collect funds without genuine accountability.
The sudden escape of these investors — carried out in full view of Houthi security and regulatory bodies exposes severe negligence and raises suspicions of direct collusion by those overseeing the economic sector.
While Houthi rebels have pledged to pursue the fugitives, public opinion believe that the crisis goes far beyond an isolated fraud cases, underscoring what many see as the fundamental failure of the Houthi rebellion itself