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Saudi Billionaire Prince Alwaleed Freed From Custody

After nearly three months in detention at the Ritz Carlton in Riyadh.

Saudi billionaire Prince Alwaleed bin Talal, one of the most prominent figures held at the Riyadh Ritz Carlton as part of a dramatic corruption crackdown, has been released from custody more than two months after his detention, Reuters reports, citing family sources. “He has arrived home,” a family source was quoted as saying Saturday. Alwaleed, one of the world’s richest men, had been accused of money laundering, bribery, and extortion in the crackdown launched by Crown Prince Mohammed bin Salman, though he reportedly maintained his innocence throughout his time in detention. His release came hours after he told Reuters he would be allowed to keep control of his global investment firm, Kingdom Holding Co. The billionaire had earlier feared having to surrender assets to Saudi authorities as part of a $6 billion settlement to secure his release. Several other Saudi royals and businessmen have also reportedly been released, including Waleed al-Ibrahim, head of the Dubai-based Middle East Broadcasting Center, and Khaled al-Tuwaijri, the head of the royal court under the late King Abdullah.