Saudi Government refuses to deal with the $17 billion net worth Prince Al Waleed arrested on corruption charges

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The Saudi Kingdom under King Salman started a campaign against corruption, in which many Government high officials and big businessmen were arrested one of them is Alwaleed bin Talal whose net worth according to one of the magazines is $17 billion. Talal has been trying to negotiate with the official authorities to reach on a possible settlement. 

It has been on news that the prince offered to a certain amount of money but it did not meet the required amount of money from him. Therefore still it has been confirmed that no deal has been signed between the two parties. 

It was also coming through some unknown sources that the prince Al Waleed also offered a ‘donation’ to the government which will take away the desire of corruption from the government servants and corruption would also be eradicated but the Government of King Salman did not concede.

Saudi officials claim $100 billion that rightfully belong to the state and it aims to recover it from these arrested men.

The prominent businessman Al Waleed Talal faces the allegation of money laundering, bribery and extorting officials although till now neither the prince himself nor the company mentioned in the charges has commented on these allegations publicly. In a way this silence reaffirms the charges being  leveled upon Prince Al Waleed.

This new wave against corruption has no doubt strengthened the Kingdom but on the other side it is also been said that it is a step towards more open and modern Saudia Arabia.

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MediaBites Editorial: Mudabbir Ali & Imran Malik

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