Saudi sweep snares prince, billionaire

Published on Sunday, 5 November 2017 22:30
Written by The Associated Press

RIYADH, Saudi Arabia (AP) - Saudi Arabia has arrested dozens of princes, senior military officers, businessmen and top officials, including a well-known royal billionaire with extensive holdings in Western companies, as part of a sweeping purported anti-corruption probe that further cements control in the hands of its young crown prince.

A high-level employee at Prince Alwaleed bin Talal’s Kingdom Holding Co. told The Associated Press that the royal- who is one of the world’s richest men- was among those detained overnight Saturday. The company’s stock was down nearly 9 percent in trading Sunday on the Saudi stock exchange.

Reports suggested those detained were being held at the Ritz Carlton in Riyadh, which only days earlier hosted a major investment conference with global business titans from the U.S., Japan and other countries. A Saudi official told The Associated Press that other five-star hotels across the capital were also being used to hold some of those arrested.

The surprise arrests, which also reportedly include two of the late King Abdullah’s sons, were hailed by pro-government media outlets as the greatest sign yet that Crown Prince Mohammed bin Salman is keeping his promise to reform the country, long been plagued by allegations of corruption at the highest levels of government.

Analysts have suggested the arrest of once-untouchable members of the royal family is the latest sign that the 32-year-old crown prince is moving to quash potential rivals or critics.

The prince’s swift rise to power has unnerved more experienced, elder members of the ruling Al Saud family, which has long ruled by consensus, though ultimate decision-making remains with the monarch.

The king named his son, the crown prince, as head of an anti-corruption committee established late Saturday, just hours before its arrest of top officials.

A Saudi government official with close ties to security says 11 princes and 38 others are being held.

The scale of the arrests is unprecedented in Saudi Arabia, where senior royals and their business associates were seen as operating above the law. Saudi nationals have long complained of rampant corruption in government and of public funds being squandered or misused by people in power.

Shortly before the arrests, King Salman had ousted Prince Miteb bin Abdullah from his post as head of the National Guard. The prince is reportedly among those detained in the sweep, as is his brother, Prince Turki bin Abdullah, who was once governor of Riyadh. Both are sons of the late King Abdullah, who ruled before his half-brother King Salman.



Posted in New Britain Herald, Nation-World on Sunday, 5 November 2017 22:30. Updated: Sunday, 5 November 2017 22:32.