Did House of Saud sell out?

quote:

---

Saudi royals and businessmen detained in an anti-corruption crackdown are being being offered deals that trade large chunks of their wealth for their freedom, according to reports. Authorities are making agreements with some of those detained for them to hand over assets for their release, Reuters reported, citing sources familiar with the matter. At least one businessmen has signed an agreement and has had millions of Saudi riyals withdrawn from his bank account.

For some of the officials, the suggested deals are for as much as 70 percent of their wealth or assets in what amounts to a state-sponsored appropriation of funds from those suspected of corruption.

---

quote:

---

“They are making settlements with most of those in the Ritz,” an adviser of a multi-billionaire businessmen who is close to the negotiations told the Financial Times. “Cough up the cash and you will go home.” The purge included 11 princes, four ministers, and dozens of officials and businessmen. People arrested include billionaire Prince Alwaleed bin Talal, the nephew of King Salman and one of the world’s richest men with a net worth of around $18 billion, former Riyadh Governor Prince Turki bin Abdullah Al Saud and former Finance Minister Ibrahim al-Assaf.

---