Corruption settlements exceed $106bn - Saudi prosecutor

Corruption settlements exceed $106bn - Saudi prosecutor

Al-Mojeb also said that total settlements with the suspects had topped SR400 billion in various forms of assets, which include real estate, commercial entities, securities and cash.

The estimated value of settlements stands at more than 106 billion USA dollars in various types of assets, including real estate, commercial entities, securities and cash. An earlier statement by the government incorrectly identified 65 people as still being held.

The anti-corruption drive was led by Mohammed bin Salman, the 32-year-old crown prince and author of the "Vision 2030" programme of social and economic reforms in the ultra-conservative Muslim Gulf nation.

Sheikh Saud al-Mojeb said he has completed inquiries into 381 high-profile corruption suspects and chose to keep 56 in custody and free the rest. It appears close to 40 were released since then.

MidEast stocks were mixed, with Saudi shares boosted by Kingdom Holding after its owner Alwaleed bin Talal was released from custody on Sunday.

Saudi Arabian authorities have released all remaining detainees from Riyadh's opulent Ritz-Carlton Hotel, where they were held as part of an anti-corruption campaign.

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The government said most of those detained agreed monetary settlements in exchange for their freedom.

Authorities are now winding down the probe that began on November 4 when authorities arrested dozens of royals, government officials and prominent businessmen.

"Negotiation and settlement with many has been concluded and cases have been transferred to the Public Prosecution Office to complete the relevant procedures, " the statement said.

In another sign that the investigation was winding down, a Saudi official told Reuters on Tuesday that all detainees had now left the Ritz-Carlton.

The foreign assets, the vast majority of which are believed to be in U.S. dollars, are held mostly in the form of securities holdings and bank deposits. He said he wanted to create the world's largest sovereign wealth fund, worth up to $3tn, with money generated by partially privatizing the state oil company, Saudi Aramco.

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