‘Where’s the Gold?’: How the Assads Drained Syria’s Resources

DAMASCUS, 3rd March 2025 (BSS/AFP) – From an isolated lair perched in the rugged hills above Damascus, the notorious Fourth Division kept a close eye on the city it exploited for resources, draining it of its wealth.

Many of the bases once controlled by Bashar al-Assad’s younger brother, Maher, have been looted since his downfall. However, the discarded papers found in the aftermath reveal the extent of the lavish lifestyles enjoyed by the Assad family and their associates while ordinary Syrians struggled to survive.

The documents uncovered by AFP expose how Maher al-Assad and his network built an immense economic empire, profiting from a country already devastated by over 13 years of civil war. Western governments had long accused him of transforming Syria into a narcotics hub, particularly flooding the Middle East with captagon, an illegal stimulant.

Yet, these papers show the Fourth Division’s involvement in numerous illicit activities far beyond the $10 billion captagon trade. The division was deeply entangled in Syria’s economy, acting as a mafia-like entity within a pariah state.

Looting and Corruption at Every Level:

The Assad regime’s profits extended to expropriating homes and farms, seizing food, cars, and electronics for resale, and even looting copper and metals from bombed buildings. At roadblocks and checkpoints, soldiers collected “fees,” and protection rackets flourished. Businesses were forced to pay for escorts of oil tankers, some even from jihadist-held regions.

The centre of this criminal network was Maher al-Assad’s secretive offices, buried deep beneath the mountainside above Damascus. AFP reporters were guided through underground tunnels that included luxurious rooms, as well as several vaults, which had been broken into by looters after the fall of the Assad regime.

Maher’s escape was chaotic; he fled separately from his brother, using a helicopter to cross into Iraq before seeking refuge in Russia. Yet, the remnants of his underground lair tell a story of opulence, with abandoned safes, luxury items, and stacks of cash – an indication of the immense wealth siphoned from the Syrian people.

A Mountain of Money:

Documents show the Fourth Division had access to staggering sums, including $80 million, €8 million, and 41 billion Syrian pounds in ready cash, a routine cash float in 2021. Experts speculate that their real fortune is likely stashed abroad, with assets in Arab and African countries. The Fourth Division was a well-oiled money-making machine, preying on a population where the United Nations estimates over 90% live on less than $2 per day.

Despite harsh international sanctions, Maher al-Assad and his cronies remained immune, operating as a state within a state. Their wealth continued to grow while the Syrian population was left to endure extreme poverty and suffering.

A Shadowy Figure:

Maher al-Assad was known as the “Butcher” for his brutal tactics, particularly during the early days of the Syrian civil war. His division was implicated in numerous atrocities, yet he remained a largely unseen figure, seldom making public appearances. Even though he was responsible for some of the regime’s most infamous crimes, those close to the family describe him as a generous but volatile man.

His associates, like Ghassan Belal, the head of the Fourth Division’s Security Bureau, also lived lavishly. Belal’s extravagant lifestyle is well-documented in papers showing luxury car shipments to Dubai and payments for various expenses, including a Netflix subscription on a “friend’s foreign credit card.”

A ‘Mafia’ State:

The Assad family’s network operated with a mafia-like mentality. A former Fourth Division officer described working for an entity that was untouchable, with complete immunity under Maher’s rule. The division’s operations were far-reaching, involving drug trafficking, extortion, and protection rackets. One such protection racket involved securing shipments of captagon for drug dealers, while others enforced their control over the smuggling of goods across borders.

Even as the regime crumbled, Maher’s vast fortune remained hidden, with reports suggesting that some of his wealth was buried in various locations or sent abroad. Meanwhile, the majority of the population struggled to survive amidst the devastation left by the war.

A Legacy of Destruction:

The Fourth Division’s unchecked greed left a lasting mark on Syria’s landscape and its people. One particularly poignant account came from Adnan Deeb, a graveyard caretaker from Homs, whose family’s property was seized by the division. Despite being forbidden from returning to their homes, Deeb and his neighbours continued to pay taxes on properties that had been repurposed for military and administrative use.

Even now, those who once served the Assad regime are still attempting to uncover what remains of the immense wealth amassed by Maher al-Assad and his allies. “Where’s the gold?” one man asked AFP while sifting through the remains of Maher’s mansion in the Yaafour district of Damascus, as the luxurious home lay ransacked.

The ultimate fate of Syria’s stolen wealth remains uncertain. Yet, the papers left behind by Maher al-Assad and his network provide a grim reminder of the corruption that fuelled Syria’s tragic descent into chaos. The stolen wealth, the illicit business dealings, and the exploitation of the Syrian people continue to shape the legacy of the Assad regime.