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Saudi billionaire Al-Waleed bin Talal refuses settlement with Crown Prince

Staff Writer | December 19, 2017
Saudi renowned billionaire, Prince Al-Waleed bin Talal is reported to have rejected a settlement with Crown Prince Mohammed bin Salman (MBS).
Al-Waleed bin Talal
Finance   The prince intends to fight the allegations against him in court
The Financial Times reported two sources briefed on the investigations as saying that the prince intends to fight the allegations against him in court. He even hired lawyers, Middle East Monitor reported.

The Saudi prince was arrested last month along with more than 200 people including members of the royal family and senior officials in the largest anti-corruption purge in the kingdom’s history.

However, many princes are reported to have reached a financial settlement in exchange for their freedom.

Saudi Arabia wants to secure at least $100 billion in the mass purge to finance its budget deficit.

Bin Talal’s domestic and foreign investments have been severely hit with his detention that approaches its second month.


 

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