• Home
  • About Us
  • Schedule
  • News
    • Citi Sports
    • Citi Business
  • Citi TV
  • Audio On Demand
    • Effective Living Series
Citi 97.3 FM - Relevant Radio. Always
No Result
View All Result
Citi 97.3 FM - Relevant Radio. Always
  • Home
  • About Us
  • Schedule
  • News
    • Citi Sports
    • Citi Business
  • Citi TV
  • Audio On Demand
    • Effective Living Series
Citi 97.3 FM - Relevant Radio. Always

Saudi Arabia elites released after paying corruption settlements

January 27, 2018
Reading Time: 2 mins read
Saudi Arabia elites released after paying corruption settlements
Share on FacebookShare on TwitterShare on Whatsapp

Some of Saudi Arabia’s most powerful men detained in November in an anti-corruption purge have been released.

Among those set free are Waleed al-Ibrahim, the head of MBC television network, and Khalid al-Tuwaijiri, a former chief of the royal court.

They have paid substantial financial settlements, reports say – though the amounts have not been made public.

More than 200 princes, politicians, and wealthy businessmen were detained in the crackdown.

Since then, they have been held in the Ritz Carlton hotel in Riyadh, which is due to reopen on 14 February.

The settlements are likely to have been costly.

Media reports suggest that Mr al-Ibrahim’s deal may have included his controlling share in MBC – the largest media company in the Middle East.

The anti-corruption drive was instigated by Prince Mohammed bin Salman – who has been accused of using the investigation to remove opponents and consolidate his power.

In the aftermath of the purge, Saudi Arabia’s attorney general said at least $100bn (£76bn) had been misused through systemic corruption and embezzlement going back decades.

The detentions – and the expensive settlements – are being characterised by the state as an attempt to recover those funds.

Many more of those detained remain in the Ritz Carlton under guard, until it reopens for Valentine’s Day in mid-February.

Those who do not reach settlements before then are expected to be sent to prison to await trial.

Meanwhile, one of the highest-profile detainees, Prince Alwaleed bin Talal, told Reuters news agency on Saturday that he expected to be cleared of wrongdoing and “released from custody within days”.

The billionaire – who is one of the country’s richest people – said he expected to keep full control of his investment firm.

–

Source: BBC

Tags: ElitesSaudi Arabia
Previous Post

Speaker sworn in again as acting President

Next Post

Ten amazing foods that help you stay hydrated

  • Archives
Call us: +233 30 222 6013

© 2020 Citi 97.3 FM - Relevant Radio. Always

No Result
View All Result
  • Home
  • About Us
  • Schedule
  • News
    • Citi Sports
    • Citi Business
  • Citi TV
  • Audio On Demand
    • Effective Living Series

© 2020 Citi 97.3 FM - Relevant Radio. Always

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In