What's Next for Saudi's Elite After Leaving Ritz? - Bloomberg

What's Next for Saudi's Elite After Leaving Ritz? - Bloomberg:

"Even before Prince Alwaleed bin Talal and other billionaires were released after almost three months in detention, Saudi officials had already pronounced their controversial anti-corruption crackdown a resounding success. Authorities were on track to recover more than $100 billion in settlement deals in exchange for dropping all charges against dozens of the country’s rich and famous, a senior official said last week. Yet as detainees leave their luxury prison at the Ritz-Carlton in Riyadh, questions linger. Was this a crackdown, a power grab, or a shakedown to help an economy strained by low oil prices? Is it the end of anti-corruption efforts in the largest Arab economy?

1. How many people have been released?

Attorney General Sheikh Saud Al Mojeb said in a rare Jan. 21 interview that about 90 people were released after agreeing to pay back ill-gotten money. A senior government official predicted the purge would wind down before the end of the month, with a few more agreements expected. Over the weekend, Prince Alwaleed and other top businessmen including retail billionaire Fawaz Al Hokair were let go. Also freed were Khalid al-Tuwaijri, head of the royal court under the late King Abdullah, and Prince Turki bin Nasser, who was involved in a massive arms sale that led to corruption probes in the U.K. and the U.S., one of the government officials said. "



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