Saudi crown prince anti-corruption group arrests 11 princes including billionaire bin Talal

A new Saudi anti-corruption committee headed by Crown Prince Mohammed bin Salman, has detained 11 princes, four sitting ministers and dozens of former ministers.

The committee has announced fresh investigations into the 2009 Jeddah floods and the outbreak of the Middle East Respiratory Syndrome (MERS) virus, which emerged in Saudi Arabia in 2012.

According to media reports, the committee has been given the authority to investigate, arrest, ban from travel, disclose and freeze accounts and portfolios, track funds and assets of individuals involved in corruption.

The Saudi Economy and Planning Minister, Adel bin Mohammed Faqih and National Guard Minister, Prince Miteb bin Abdullah bin Abdulaziz were also sacked.

Eleven princes including prominent billionaire investor, Prince Alwaleed bin Talal and dozens of current and former ministers were arrested in Saudi Arabia after the formation of an anti-corruption committee by King Salman bin Abdulaziz Al-Saud.

The three ousted ministers were replaced, with Prince Khalid bin Abdulaziz bin Mohammed bin Ayyaf Al Muqren becoming National Guard minister, Mohammed bin Mazyad Al-Tuwaijri becoming the Economy and Planning Minister, and Vice Admiral Fahd bin Abdullah Al-Ghifaili taking on the role of Naval Forces Commander.

Prince Alwaleed bin Talal

According to reports, Prince Alwaleed’s arrest is expected to send shockwaves both through the Kingdom and the world’s major financial centers as he controls the investment firm Kingdom Holding and is one of the world’s richest men, with major stakes in News Corp, Citigroup, Twitter and many other well-known companies.
The prince also controls satellite television networks watched across the Arab world.

The arrests are being viewed as the latest move to consolidate the power of Crown Prince Mohammed bin Salman, the favorite son and top adviser of King Salman.

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