Saudi Arabia seizing more than $100 billion in corruption crackdown

DUBAI, United Arab Emirates — A wide-reaching anti-corruption campaign shrouded in secrecy and intrigue has netted more than $106 billion in financial settlements with 56 people remaining in custody, Saudi Arabia said on Tuesday.

Saudi Attorney General Saud al-Mojeb said the settlements reached include seizure of real estate assets, commercial entities, securities and cash.

The statement did not disclose further details on the types of businesses or real estate that was acquired.

Al-Mojeb said a total of 381 people had been questioned in connection with the unprecedented anti-corruption campaign, which began Nov. 4 and is being spearheaded by Crown Prince Mohammed bin Salman.

Last week, al-Mojeb said 90 people had been released after agreeing to financial settlements and that 95 were still being held. It appears close to 40 were released since then.

Among those released over the weekend was billionaire Saudi Prince Alwaleed bin Talal, who is chairman of Kingdom Holding and has investments in major Western firms such as Twitter, Apple, Lyft and Citigroup.

For Subscribers

FOR SUBSCRIBERSInflation and tariffs push U.S. holiday spending projections to a record $1.7 trillion

FOR SUBSCRIBERSWhat happened inside the room where officials tried to execute Christa Pike by lethal injection

FOR SUBSCRIBERSHow we reported the saga of the CIA officer and his gold-bar stash

FOR SUBSCRIBERS‘We’re going to beat you to death with audits’: Brad Raffensperger gears up to oversee his final election in Georgia

FOR SUBSCRIBERSDiddy is punished following NBC News report on his VIP life in prison and contraband cellphone use

FOR SUBSCRIBERS‘Too young to vote, old enough to be tear gassed’: French protesters’ anger swells

FOR SUBSCRIBERSDOJ gets aggressive in suing states that challenge Trump’s immigration policies

FOR SUBSCRIBERSJustice Department seeks criminal charge for former Trump aide Cassidy Hutchinson

FOR SUBSCRIBERS‘I just want to hold him’: USS Lincoln sailor to meet his 10-month-old son as ship docks

FOR SUBSCRIBERSSenate candidates run on raising Social Security taxes for higher incomes to prevent benefit cuts

FOR SUBSCRIBERSRussian operation that used ChatGPT tricked schools, a politician and media, OpenAI says

FOR SUBSCRIBERSTrump administration’s deal with Nevada fuels data center fight in governor’s race

FOR SUBSCRIBERSLatino voters reject Trump’s immigration policies — and detail the personal impact

FOR SUBSCRIBERSAs Democrats eye big midterm gains, the Wisconsin governor’s race remains a nail-biter

FOR SUBSCRIBERSU.S. military prepares new Iran war options ahead of midterm elections

Slide 1 of 1

For Subscribers

FOR SUBSCRIBERSInflation and tariffs push U.S. holiday spending projections to a record $1.7 trillion

FOR SUBSCRIBERSWhat happened inside the room where officials tried to execute Christa Pike by lethal injection

FOR SUBSCRIBERSHow we reported the saga of the CIA officer and his gold-bar stash

FOR SUBSCRIBERS‘We’re going to beat you to death with audits’: Brad Raffensperger gears up to oversee his final election in Georgia

FOR SUBSCRIBERSDiddy is punished following NBC News report on his VIP life in prison and contraband cellphone use

FOR SUBSCRIBERS‘Too young to vote, old enough to be tear gassed’: French protesters’ anger swells

FOR SUBSCRIBERSDOJ gets aggressive in suing states that challenge Trump’s immigration policies

FOR SUBSCRIBERSJustice Department seeks criminal charge for former Trump aide Cassidy Hutchinson

FOR SUBSCRIBERS‘I just want to hold him’: USS Lincoln sailor to meet his 10-month-old son as ship docks

FOR SUBSCRIBERSSenate candidates run on raising Social Security taxes for higher incomes to prevent benefit cuts

FOR SUBSCRIBERSRussian operation that used ChatGPT tricked schools, a politician and media, OpenAI says

FOR SUBSCRIBERSTrump administration’s deal with Nevada fuels data center fight in governor’s race

FOR SUBSCRIBERSLatino voters reject Trump’s immigration policies — and detail the personal impact

FOR SUBSCRIBERSAs Democrats eye big midterm gains, the Wisconsin governor’s race remains a nail-biter

FOR SUBSCRIBERSU.S. military prepares new Iran war options ahead of midterm elections

Slide 1 of 1

He had been detained for more than 80 days at the luxurious Ritz-Carlton hotel in Riyadh, where dozens of high-profile figures were held, questioned and pressured into forfeiting significant financial assets in exchange for their release. It was not immediately known what kind of settlement Prince Alwaleed had agreed to.

Prince Alwaleed was among at least 11 princes and dozens of businessmen and officials detained in the unprecedented sweep.

Critics say the crown prince has used the purge against high-level individuals to wrangle control of key Saudi companies, sideline potential rivals and silence critics alarmed by his rapid rise to power as he prepares to inherit the throne from his father, King Salman.

Saudi authorities say the campaign is aimed at improving the kingdom's business environment and that sums recovered will be used to fund a cash assistance program for middle and lower-income citizens estimated to cost $8.5 billion this year.

• Add to Google

FROM NOV. 26: Inside Saudi Arabia's changing kingdom

01:58

The attorney general said the remaining 56 individuals still in custody have not reached a financial settlement "due to other pending criminal cases, or in order to continue the investigation process." Those still held could now face prosecution and prison time, the government has previously warned.

In the statement released by the government, authorities appeared to be trying to assuage foreign investors, saying the review of case files of those accused of corruption "has been completed."

Despite repeated statements that the purge is nearly over, investors remain concerned about doing business in Saudi Arabia, where key business partners and firms could still be targeted. The government has also not officially released the names of individuals detained nor disclosed the specific allegations against them, leading to concerns of transparency and accountability.