Saudi prince released from custody after reaching $1bn corruption settlement: reports
Saudi prince released from custody after reaching $1bn corruption settlement: reports

Saudi Arabian authorities released Prince Miteb bin Abdullah from custody on Tuesday after reaching an estimated $1 billion settlement agreement concerning corruption allegations, according to a Saudi official [Reuters report].

Miteb, “along with 200 other royals, ministers and business tycoons,” was arrested and detained in the Ritz-Carlton hotel in Riyadh earlier this month for alleged participation in the so-called “anti-graft campaign.” Accusations against him include “embezzlement, hiring ghost employees and awarding contracts to his own firms, including a deal for walkie talkies and bulletproof military gear.”

The Saudi official who detailed Miteb’s release, told Reuters that the prosecutor is negotiating many other settlements in the case, but at least five will face trial. The estimated total amount involved in the corruption case is USD $100 billion.

Miteb is the son of the late King Abdullah and before he was detained, he was “head of the elite national guard [Independent, report]” and thought of as a strong contender for the throne. The detail of Miteb’s settlement have not yet to be officially released and it is unclear whether he will remain under freedom restraints post-release.