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Senior Saudi Prince Miteb Freed After $1 Billion Settlement

Senior Saudi Prince Miteb Freed After $1 Billion Settlement

Prabb bin Abdullah was been arrested three weeks ago on corruption charges

Senior Saudi Prince Miteb bin Abdullah, who was a leading contender to the throne, was freed after an agreement of “acceptable settlement” with authorities paying more than $1 billion.

According to Saudi official said Prince Miteb bin Abdullah was freed after reaching an acceptable settlement agreement with authorities paying more than $1 billion.

Prince Miteb, son of the late King Abdullah who was head of the elite National Guard, was among dozens of royal family members, ministers and current and former senior officials who were rounded up in a graft inquiry at least partly aimed at strengthening the power of Crown Prince Mohammed bin Salman.

According to a Saudi official, Prince Miteb was accused of embezzlement, hiring ghost employees and awarding contracts to his own firms including a $10 billion deal for walkie-talkies and bulletproof military gear worth billions of Saudi riyals.

Prince Miteb’s release is a sign that Saudi authorities are moving to wind down a purge that has shaken the kingdom and reverberated across world capitals, as analysts, bankers and diplomats sought to assess its impact on power in the world’s biggest oil exporter.

Crown Prince Mohammed bin Salman in an interview with New York times said that the vast majority of about 200 businessmen and officials implicated in the crackdown were agreeing to settlements under which they would hand assets over to the government.

Apart from Miteb, the Saudi official said Saudi authorities had been working on striking agreements with some of those in detention, asking them to hand over assets and cash in return for their freedom.

Officials from Miteb’s office could not immediately be reached for a comment about his release. An acquaintance of the family has said earlier on his Twitter account that Miteb was receiving brothers and sons at his palace in Riyadh.

According to Reuters, the Public Prosecutor had also decided to release a number of individuals and to prosecute at least 5 individuals. The official gave no details on their identities.

 

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