Saudi Prince Freed In Billion-dollar Deal After Graft Probe: Saudi Tycoon Alwaleed bin Talal Short Of Friends On A Bad Day
28 November 2017Daily Sabah
Saudi Arabia has freed influential Prince Miteb bin Abdullah, following a
"settlement" with authorities reportedly exceeding $1 billion, more than three
weeks after he was detained in a sweeping anti-corruption purge.
The former National Guard chief was among more than 200 princes, ministers and
businessmen who were rounded up earlier this month, as Crown Prince Mohammed
bin Salman tightens his grip on power. Prince Miteb, once seen as a contender
to the throne, is the most high-profile royal to be released so far as the
government appears to be striking monetary settlements with some of the
detainees in exchange for their freedom. "Yes, Prince Miteb was released
[Tuesday] morning," a source close to the government told AFP, without
outlining the terms of his release.
The prince was released after paying more than $1 billion in a "settlement
deal" with authorities, Bloomberg News cited an unnamed official as saying.
Saudi information ministry officials also could not confirm the development
but posts on social media by members of the royal family suggested he had been
freed. Princess Nouf bint Abdullah bin Mohammed bin Saud posted an old image
of Prince Miteb on a verified Twitter account with the message: "Praise be to
Allah. Peace be upon you."
In a similar post with the picture of a smiling prince, Princess Abeer bint
Khaled bin Abdullah tweeted: "May god grant you a long life, give you health
and keep you safe for us."
Before his arrest the 64-year-old son of the late king Abdullah was sacked as
the head of the National Guard, an internal security force that has long been
seen as a locus of tribal power.
Saudi tycoon Alwaleed bin Talal short of friends on a bad day
ver the years, Saudi Prince Alwaleed bin Talal had forged considerable
business ties with the West, but seemingly no one spoke up in his support or
against his arrest several weeks ago during Saudi Arabia's so-called
anti-corruption purge.
Talal, on the Arab world's richest list with an estimated net worth of $18.7
billion, is the second biggest shareholder of Twitter Inc. He has investments
in Apple, Rupert Murdoch's News Corp., Citigroup, and the Four Seasons,
Fairmont and Movenpick hotel chains. He is also an investor in ride-sharing
services Lyft and Careem, both competitors to Uber in the U.S. and the Middle
East, respectively.
The 62-year-old tycoon made many partners and invested billions of dollars in
Western businesses, yet very few openly expressed their support, according to
Bloomberg.
Their silence on the issue could be explained by the fact that Talal's
partners are wary of being perceived as critics of the purge and Saudi
Arabia's Crown Prince Mohammed bin Salman, who leads it.
Bill Gates broke the silence Monday, when he called Talal an "important
partner" in charitable work.
"Prince Alwaleed has been an important partner in my foundation's work to
ensure that kids around the world receive life-saving vaccinations. We've
worked together to help stop the spread of polio, measles, and other
preventable diseases," Gates told Bloomberg in an emailed statement.
The Microsoft Inc. founder added that Talal's commitment to philanthropy was
inspiring.
Earlier this month, Citigroup CEO Michael Corbat called the Saudi billionaire
a "consistent, loyal supporter."
Talal was reportedly among detained Saudi rich men tortured by private
American security contractors. According to a report, Talal was hung upside
down to "send a message" after being lured to a meeting with the crown prince.
Saudi Arabia said more than 200 people, including high profile officials and
princes, were detained over embezzlement and corruption during the purge.
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