Saudi Prince Alwaleed in settlement talks with government, sources say

Saudi Arabia’s billionaire Prince Alwaleed bin Talal, detained for over two months in an anti-corruption crackdown, can be negotiating a possible settlement with authorities however so far has not agreed on terms, a senior Saudi official said.

Prince Alwaleed, whose net worth has been estimated by Forbes magazine at $17 billion, can be chairman in addition to owner of international investment firm Kingdom Holding, in addition to one of the country’s most prominent businessmen.

“He offered a certain figure however of which doesn’t meet the figure required coming from him, in addition to until today the attorney-general hasn’t approved of which,” the official said on condition of anonymity under government briefing rules.

A second source familiar with Prince Alwaleed’s case told Reuters on Saturday of which he had offered to make a “donation” to the Saudi government, which would likely avoid any admission of
wrongdoing, in addition to to do so coming from assets of his own choosing. however the government refused those terms, the source said.

Since early November Prince Alwaleed has been held, with dozens of various other members of Saudi Arabia’s political in addition to business elite detained inside the crackdown, in Riyadh’s opulent Ritz Carlton hotel as authorities seek to reach settlements with the detainees.

Saudi officials say they aim to claw back some $100 billion of funds of which rightfully belong to the state. Crown Prince Mohammed bin Salman, who launched the crackdown, has indicated he wants to close existing cases quickly in addition to expects most suspects to cut a deal.

The allegations against Prince Alwaleed include money laundering, bribery in addition to extorting officials, a Saudi official told Reuters soon after his detention. Neither he nor his company has commented publicly on the charges.

Kingdom Holding, which has said of which can be continuing to operate normally, did not respond to requests for comment when asked about any settlement talks.

Construction giant Saudi Binladin Group said on Saturday of which some of its shareholders might transfer part of their holdings to the state in a settlement with authorities. Chairman Bakr Bin Laden in addition to several family members were detained inside the crackdown.

In late November, senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching a settlement with authorities of which involved paying more than $1 billion, according to a Saudi official.

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