Riyadh still holds 95 suspects as anti-graft probe winds down

RIYADH: Saudi authorities are still holding 95 suspects in an anti-corruption drive targeting the kingdom’s elite, a report said Wednesday, as the campaign winds down nearly three months after it was launched by the crown prince.

Authorities rounded up some 350 suspects since November 4, including billionaire princes and ministers who were detained in Riyadh’s luxury Ritz-Carlton hotel.

Most detainees agreed on financial settlements in “cash, real estate and other assets” in exchange for their freedom, Saudi-owned Al Arabiya television reported, adding that 90 others were released after charges were dropped.

“Only a couple of days till cases of corruption related settlements are closed in preparation for referring remaining defendants to the public prosecution,” Al Arabiya said citing what it called an infographic created by the public prosecutor.

“Ninety-five people are still detained.”

The Ritz-Carlton is set to re-open for business next month, sources at the hotel have said. Its website lists rooms as available from February 14.

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Crown Prince Mohammed bin Salman, the 32-year-old son of the king, has spearheaded the unprecedented crackdown on corruption among members of the government and royal family, as he consolidates his grip on power in the kingdom.

The most high-profile target of the crackdown was billionaire Prince Al-Waleed bin Talal, dubbed the Warren Buffett of Saudi Arabia.

Authorities have said most of those detained struck monetary settlements in exchange for their freedom, which could earn state coffers about $100 billion.

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The windfall settlements will help the government finance a multi-million dollar package announced by King Salman this month to help citizens cope with the rising cost of living, Finance Minister Mohammed al-Jadaan told Al Arabiya in Davos on Wednesday.

Some critics have labelled the campaign a shakedown, but authorities insist the purge was aimed to target endemic corruption as Saudi Arabia seeks to diversify its oil-dependent economy.