Saudi Prince Miteb released after $1bn deal, official says

Prince Miteb bin Abdullah, one of the most senior Saudi royals detained in the kingdom’s declared crackdown on corruption,

has been released after reaching a settlement deal believed to exceed the equivalent of $1 billion, an official involved in the anti-graft campaign said.

Prince Miteb, son of the late King Abdullah, who headed the powerful National Guard until earlier this month, was released Tuesday,

the official said on condition of anonymity in discussing matters under the supervision of the public prosecutor.

At least three others have also finalised settlement deals, the official said. It wasn’t immediately possible to reach Prince Miteb for comment.

The public prosecutor has decided to release several individuals and will proceed with the prosecution of at least five others, the official said.

Prince Miteb’s release is a sign that Saudi authorities are moving to wind down a purge that has shaken the kingdom and reverberated across world capitals, as analysts, bankers and diplomats sought to assess its impact on power in the world’s biggest oil exporter.

Crown Prince Mohammed bin Salman, the kingdom’s predominant leader known as MBS, said this month that the majority of those being detained had agreed to pay back some of the money they had gained illegally, in exchange for their freedom. The prince said authorities could recover as much as $100 billion in settlements.

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