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Saudi Prince Alwaleed bin Talal Released after 80 Days Corruption Probe for 80 Days

Saudi Prince Alwaleed bin Talal Released after 80 Days Corruption Probe for 80 Days

Saudi Prince Alwaleed bin Talal had been released after being locked up for more than 80 days in a anti-corruption probe in Saudi Arabia.  At least 11 princes, 4 ministers and many more former ministers were probed and taken into custody in November 2017 in an anti-corruption crackdown by Crown Prince Mohammed bin Salman.

“ Saudi Prince Alwaleed bin Talal Released from Riyadh Ritz-Carlton after 80 days “

They were detained in Riyadh Ritz-Carlton, a luxurious hotel that have housed prominent people including United States President Trump and former United States President Barack Obama.  The anti-corruption crackdown is expected to yield $100 billion in financial settlements to the state.

The anti-corruption sweep is taking place against a backdrop of reform in Saudi Arabia and the upcoming initial public offering for state-owned oil giant Saudi Aramco.   Saudi Prince al-Waleed Bin Talal is a member of the Saudi royal family, billionaire and is a prominent investor in many US companies, including Citigroup.

Source: Reuters, NY Times

 

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