Saudi Arabia’s Prince Alwaleed Bin Talal, a prominent member of the country’s royal family and a wealthy investor has been arrested on the allegations of large scale corruption. He has been detained along with 11 other Princes, four current ministers and a dozen of former ministers of Saudi Arabia, as per the reports available with Bureaucracy Today.
It is to be noted that Prince Alwaleed Bin Talal is known as one of the world’s richest men with extensive holdings in western companies which include Twitter and Citigroup.
The development comes after the announcement of King Salman for the creation of an anti-corruption committee chaired by the crown prince Mohammed bin Salman. The newly created body has been given extensive powers to investigate cases, issue arrest warrants, travel restrictions and seize assets. The analyst say that the arrests were another pre-emptive measure by the crown prince to remove powerful figures to centralize his power as he exerts control over the world’s leading oil exporter.
The arrest decree said that the arrest were in response to “exploitation by some of the weak souls who have put their interests above the public interest, in order to, illicitly accrue money.”