Senior Saudi prince freed in $1 billion settlement agreement: official

Senior Saudi Arabian prince Miteb bin Abdullah, once seen as a leading contender to the throne, has been freed after agreeing to pay over $1 billion to settle corruption allegations against him, a Saudi official said on Wednesday.

Miteb, 65, son of the late King Abdullah and former head of the elite National Guard, was among dozens of royal family members, high officials and senior businessmen rounded up this month in a crackdown on graft that has strengthened the power of Crown Prince Mohammed bin Salman.

The official, who is involved in the crackdown and spoke on condition of anonymity, said Miteb was released on Tuesday after reaching “an acceptable settlement agreement”. The official said he believed the agreed sum to be the equivalent of over $1 billion.

“It is understood that the settlement included admitting corruption involving known cases,” the official said, without giving details.

According to the official, Prince Miteb was accused of embezzlement, hiring ghost employees and awarding contracts to his own firms, including a deal for walkie talkies and bulletproof military gear.

Prince Miteb is the first senior figure known to be released among those detained. Around 200 people in total have been questioned in the crackdown, authorities said earlier this month.

Read full article by Saeed Azhar on Reuters, November 28, 2017.