Saudi frees prince in $1bn settlement agreement

Senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching an “acceptable settlement agreement” with authorities paying more than $1 billion, a Saudi official said on Wednesday.

Miteb, who was head of the elite National Guard, was among dozens of royal family members, ministers and current and former senior officials rounded up recently in a graft inquiry partly aimed at strengthening the power of Crown Prince Mohammed bin Salman.

The official, who is involved in the anti-corruption campaign, said Miteb was released on Tuesday.

“The amount of the settlement was not disclosed but it is believed to be more than one billion US dollar equivalent.

“It is understood that the settlement included admitting corruption involving known cases,” the official said.

At least three other people allegedly involved in corruption cases have also finalized settlement agreements, the official told Reuters.

The official added that the Public Prosecutor also decided to release a number of individuals and to prosecute at least 5.

The official gave no details on the individuals identities.