Saudi authorities have released founder of MBC network Waleed bin Ibrahim al-Ibrahim from the Ritz Carlton in Riyadh, as reported by The Daily Star.
Saudi authorities have released founder of MBC network Waleed bin Ibrahim al-Ibrahim from the Ritz Carlton in Riyadh, the company CEO told employees late Friday evening, as reported by The Daily Star.
Reuters news agency reported that several prominent businessmen were also released from the Ritz Carlton after reaching a financial settlement with Saudi authorities.
The Daily Star report quoted a memo by regional TV network MBC CEO Sam Barnett that read: “I am delighted to convey the excellent news that Sheikh Waleed has just got back and is with members of his family in Riyadh.”
The crackdown was launched by Saudi Crown Prince Mohammed Bin Salman on November 4 last year to cut wasteful and unlawful spending by some of the countrys most powerful men.
Some 200 leading businessmen, princes and government officials were detained and many were released from the five star Ritz Carlton resort in Riyadh only after handing millions in assets over to the state.
Among those detained was Prince Alwaleed bin Talal, a billionaire investor with stakes in companies around the world including Twitter and Citigroup.
MBC is the largest free-to-air TV network in the Arab world that reportedly attracts around 140 million viewers daily across the Middle East and beyond.