Saudi billionaire Prince Alwaleed detained in corruption inquiry – AOL News

RIYADH, Nov 5 (Reuters) – Saudi authorities detained a billionaire global investor and the head of the National Guard as part of an anti-corruption purge that consolidates Crown Prince Mohammed bin Salman’s hold on power.

Prince Alwaleed bin Talal, who owns investment firm Kingdom Holding, was among 11 princes, four ministers and tens of former ministers detained, two senior Saudi officials told Reuters on Sunday.

A top security official, Prince Miteb bin Abdullah, was detained and replaced as minister of the powerful National Guard by Prince Khaled bin Ayyaf. This consolidates Prince Mohammed’s bin Salman’s control of security institutions which had previously been headed by separate branches of the ruling family.

via Saudi billionaire Prince Alwaleed detained in corruption inquiry – AOL News

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