ibusinesslines.com
ibusinesslines.com December 17, 2017


Saudi Prince released after agreeing "acceptable settlement" of more than US$ 1bn

06 December 2017, 06:51 | Erica Roy

Dr Ghassan bin Ahmad Al-Sulaiman

Dr Ghassan bin Ahmad Al-Sulaiman

Saudi Arabia's attorney general says most of the 159 individuals detained in a corruption sweep have agreed to a settlement.

Prince Miteb, once seen as a contender to the throne, was freed after agreeing an "acceptable settlement" with authorities of more than US$1bn (£750m).

In a recent interview to The New York Times, Prince Mohammed described as "ludicrous" reports equating the crackdown to a power grab, saying that many of those detained at the opulent Ritz-Carlton had already pledged allegiance to him.

"Most detainees faced with corruption allegations by the committee agreed to a settlement", he said in a statement on Tuesday.


A statement said that 320 people have been called in for questioning while 159 are now being detained. They have also not released any details of the charges they faced, and are not believed to have given them access to their lawyers.

Saudi Arabia's King Salman Abdulaziz Al Saud stands during a reception ceremony for UK Prime Minister Theresa May in Riyadh April 5, 2017.

The audience was attended by Prince Saad bin Abdullah bin Turki, Prince Turki Al-Faisal, Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, and a number of princes.

Authorities are now negotiating with detainees, "offering them a settlement that will facilitate recouping the state's funds and assets, and eliminate the need for prolonged litigation", he added.



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