Saudi Princes Among Dozens Arrested In Anti-corruption Probe

(RTTNews) - Saudi Arabia's anti-corruption committee arrested at least 17 princes and top officials, according to reports.

The list includes Prince Alwaleed bin Talal, the billionaire businessman who owns 95% of Kingdom Holding, which holds stakes in global companies such as Citigroup, Twitter, Apple and News Corp.

At least 38 former, current, and deputy ministers, have been arrested on accusations of corruption, the report said.

Three ministers were removed from their positions, and tens of former ministers were detained as part of the new anti-corruption campaign initiated by King Salman bin Abdulaziz Al-Saud.

Separately, Kingdom Holding Company or KHC, Chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announced the Company's financial results for the thirdquarter ended 30th September, 2017. The Company announced a net profit of SAR 248 million with an increase of 170% compared to the same the third quarter of 2016.

Eng. Talal Almaiman, KHC's CEO said, "The positive Q3 results reflect Kingdom Holding's sound investment strategy and commitment to its shareholders."

Meanwhile, Kingdom Holding said it was aware of various media reports regarding activities in Saudi Arabia on Saturday, November 4th, 2017 which relate to the Company's Chairman of the Board. The Company said it continues its normal business operations. The executive senior management team affirms its full commitment to continue the Company's work, its commitment to its investors and shareholders, and affirms the support of the Government of the Kingdom of Saudi Arabia. Kingdom Holding is proud of this testimony.