Saudi Authorities Detain Princes, Officials in Corruption Probe

Prince Walid bin Talal Detained, Shares in Kingdom Holding Co. Drop 10%

تم نشره في Sun 5 November / Nov 2017. 12:00 AM - آخر تعديل في Sun 5 November / Nov 2017. 07:01 PM
  • Saudi Prince Walid bin Talal - (CNBC)

CAPITALS —AlGhad— News and media channels reported late Saturday that at least 11 princes, including notorious billionaire Prince Walid bin Talal and head of the National Guard, Miteb bin Abdullah, were detained alongside numerous current and former officials,  in an anti-corruption probe headed by Saudi Crown Prince Mohammed Salman.

After news broke of the detention of Prince Walid, his 95 per cent share in the Kingdom Holding Company dropped some 10 per cent in value in less than 24 hours.

The roll call included former finance minister Ibrahim Assaf, board member of national oil giant Saudi Aramco; economy minister Adel Fakieh, former Riyadh governor Prince Turki bin Abdullah; and Khalid al-Tuwaijiri, who headed the Royal Court under the late King Abdullah.

Meanwhile, Saudi media confirmed that the authorities are going to freeze up the detainees bank accounts, at least for now.

Bakr bin Laden, chairman of the Saudi Binladin construction group, and Waleed Ibrahim, owner of the MBC television network, were also detained.

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