Saudi Prince Released after $1 Billion Settlement, Official Says

(Newsmax) – Saudi Prince Released after $1 Billion Settlement: Prince Miteb bin Abdullah, one of the most senior Saudi royals detained in a declared crackdown on corruption, has been released after reaching a settlement deal believed to exceed the equivalent of $1 billion, an official said.

Prince Miteb, son of the late King Abdullah, was released on Tuesday, the official said on condition of anonymity to discuss matters under the authority of the public prosecutor. At least three other suspects held at the Ritz Carlton hotel in Riyadh have also finalized settlement agreements, the official said.

The public prosecutor has decided to release several individuals and will proceed with the prosecution of at least five others, the official said.

King Salman removed Prince Miteb from his post as head of the powerful National Guard on Nov. 4. The same day, the monarch announced the formation of an anti-corruption commission headed by his son and heir, Crown Prince Mohammed bin Salman. A wave of detentions swiftly followed, a purge that included some of the kingdom’s richest people.

Saudi Prince Released: The release comes after Saudi authorities said the majority of those held had agreed to pay back some of the money they had gained illegally, in exchange for their freedom.

Prince Miteb’s detention fueled speculation that the purge was designed to tighten Prince Mohammed’s grip on power, a claim the prince denied in an interview with the New York Times.

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