Billionaire Saudi prince arrested for corruption

Purge of high-ranking officials as crown prince consolidates his power

Prince Alwaleed bin Talal is one of the world's richest businessmen
(Image credit: Fayez Nureldine/AFP/Getty Images)

A member of the Saudi royal family, one of the world’s richest businessmen, has been arrested as part of an anti-corruption crackdown.

Prince Alwaleed bin Talal, who has extensive holdings in Western companies and has been valued at $18bn by Forbes, was among 11 princes and dozens of serving and former officials taken into custody at the weekend. The arrests were part of an anti-corruption drive “which further cements control in the hands of its young Crown Prince, Mohammad bin Salman”, says The Independent.

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