Watch: Is Saudi Prince Alwaleed’s deal among 5 who settled at the Ritz?

January 26, 2018 11:30 am

Saudi Prince Alwaleed bin Talal’s whereabouts are still unclear.

Some say he’s still holed up at the Ritz, while others claim he is in prison or in an entirely separate location. Bloomberg’s Alaa Shahine reports on “Bloomberg Markets: Middle East.”

Shahine said he went to the Ritz without getting a clear answer as to whether Saudi Prince Alwaleed bin Talal was at the Riyadh Ritz Carlton, detained somewhere else or in prison.

“The main message from my talks with a senior official there was that there will not be any discussion of individual cases, but that the current probe will be ending in a few days and that anyone who doesn’t agree to settle will face the Saudi public prosecutor,” said Shahine.

Must read: A second wave of Saudi graft probe coming: $100bn netted is just a start!

“The Ritz didn’t look like a 5-star prison,” he added, “there were only one police car, hardly any security people, a few government SUVs outside and what looked like guests but really were anti-corruption committee engaged in conversation, as Arabic music boomed around the halls; i.e. business as usual.”

Shahine got word that 95 detainees were still at the Ritz, with 5 having settlement agreements being worked out, and 90 others not yet with any deals in place.

“The anti-corruption committee will oversee collected assets of around $100 bn in the form of cash, stock, real estate and other means.”

Watch: How will $100bn netted from Saudi corruption probe be spent?



Hadi Khatib
By Hadi Khatib
Hadi Khatib is a business editor with more than 15 years' experience delivering news and copy of relevance to a wide range of audiences. If newsworthy and actionable, you will find this editor interested in hearing about your sector developments and writing about it.