Prince Alwaleed Bin Talal in settlement talks with Saudi government


Published: 2018-01-14 14:05

Last Updated: 2018-01-14 15:38

Prince Alwaleed Bin Talal, the richest man in the Middle East. (International Business News)
Prince Alwaleed Bin Talal, the richest man in the Middle East. (International Business News)
Roya News Source

The Saudi billionaire Prince Alwaleed bin Talal, is negotiating a possible settlement with Saudi authorities without reaching an official agreement so far, senior Saudi officials said.

“He offered a certain figure but it doesn’t meet the figure required from him, and until today the attorney-general hasn’t approved it,” Reuters quoted the official on condition of anonymity under government briefing rules.

Another sources related to the prince told Reuters that he offered to make a “donation” to the Saudi government, which would avoid any admission of wrongdoing, and to do so from assets of his own choosing, however; the government refused those terms.

The richest businessman in the Middle East, Alwaleed bin Talal was arrested earlier in November 2017 with dozens of Saudi figures, were arrested by the Crown Prince Mohammed bin Salman (MbS) over corruption charges, and held at Riyadh’s luxurious Ritz-Carlton hotel.

Reports said they were offered freedom in exchange of their assets and cash, but Prince Alwaleed bin Talal refused the offer.

Earlier in November, reports showed that the billionaire prince reportedly put his two luxury hotels up for sale in Lebanon.

However, later reports in December showed that he was taken to a hospital to be treated for exhaustion and pressure.

Prince Alwaleed, whose net worth has been estimated by Forbes magazine at $17 billion, is chairman and owner of international investment firm Kingdom Holding, and one of the country’s most prominent businessmen.

Dozens of Saudi figures were arrested as part of the Crown Prince MBS anti-corruption campaign, however; 23 of them were released earlier in December.

Read More: 23 Ritz Carlton-detainees released and Alwaleed Bin Talal taken to hospital