Saudi nets over $106bn in anti-graft drive settlements

A sweeping anti-corruption campaign in Saudi Arabia has generated an estimated $106.7 billion in settlements, the Kingdom's Attorney General said.

Sheikh Saud al-Mojeb said 56 of the 381 people called in for questioning since November 4 remained in custody. The others had been cleared or admitted guilt and handed over properties, cash, securities and other assets, the BBC reported on Tuesday.

More than 200 princes, politicians and wealthy businessmen were detained in a crackdown on "systematic corruption" launched by Crown Prince Mohammed bin Salman in November. He has been accused of using the investigation to remove opponents and consolidate his power.

Those detained were accused of bribery, money laundering as well as extorting officials.

Earlier, billionaire investor Prince Alwaleed bin Talal, owner of the Arab satellite television network MBC Waleed al-Ibrahim and former chief of the Royal Court Khalid al-Tuwaijiri were released from detention at the Ritz-Carlton Hotel in Riyadh's diplomatic quarter.

The men insisted they were innocent, but Saudi officials said they had agreed to financial settlements after admitting unspecified "violations".

Others known to have been freed include Prince Miteb bin Abdullah, a son of the late King Abdullah who reportedly had handed over more than $1 billion in assets and State Minister Ibrahim al-Assaf, who was cleared of any wrongdoing.

Al-Mojeb said he had "refused to settle" with the 56 individuals still being detained "due to other pending criminal cases or in order to continue the investigation process".

They are believed to have been transferred to prison from the Ritz-Carlton, which will reopen to the public next month.

Last week, Finance Minister Mohammed al-Jadaan said the money recovered through the settlements would be used to fund a $13.3 billion programme to help Saudi citizens cope with the rising cost of living.

--IANS

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