Saudi Arabian prince spends $1 billion to escape prison

Reuters news agency today quoted a Saudi official as saying that Prince Miteb bin Abdullah, who was arrested earlier this month in the government's anti-corruption campaign, has been released after agreeing to a deal to pay $1 billion.

The Saudi official involved in the fight against corruption said Prince Miteb, 65, was released from prison on November 28 after reaching a “reconciliation agreement.” The amount of the payment was not disclosed in detail, but many sources said it was around $1 billion.

Saudi Arabian Prince Miteb bin Abdullah. Photo: Reuters

The settlement “may be interpreted as including an admission of involvement in the public corruption cases,” the official said. It is unclear whether Prince Miteb will be able to travel freely or be placed under house arrest after his release.

The Saudi government is also said to be in talks with several other high-profile detainees, asking them to hand over assets and cash in exchange for their freedom. In an interview with The New York Times last week, Crown Prince Mohammed bin Salman said about 200 businessmen and officials linked to the corruption crackdown had agreed to a deal to return their assets to the government.

Prince Miteb, 65, former head of the Saudi National Guard, is among dozens of royal family members, ministers and senior officials arrested in an anti-corruption investigation launched by Crown Prince Mohammed bin Salman on November 4. World-famous billionaire Prince Alwaleed bin Talal is also among those arrested.

According to PLO