Saudi Princes Accused of Bribery, Embezzlement, Money Laundering

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Bribery, embezzlement, money laundering and abuse of power are among the accusations levelled against dozens of Saudi princes, officials and businessmen detained in an anti-corruption probe, a Saudi official told Reuters on Monday.

Eleven princes, four ministers and tens of former ministers were detained late on Saturday after King Salman decreed the creation of an anti-corruption committee chaired by Crown Prince Mohammed bin Salman, his 32-year-old son who has amassed expansive powers over the past two years.

The new body was given broad powers to investigate cases, issue arrest warrants and travel restrictions, and seize assets.

The official said billionaire Prince Alwaleed bin Talal, a nephew of the king and owner of investment firm Kingdom Holding , faces allegations of money laundering, bribery and extorting officials.

Read the original article here: reuters.com


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