A wide-reaching anti-corruption campaign shrouded in secrecy and intrigue has netted more than $106 billion in financial settlements with 56 people remaining in custody, Saudi Arabia said on Tuesday.

Saudi Attorney General Saud al-Mojeb said the settlements reached include seizure of real estate assets, commercial entities, securities and cash.

The statement did not disclose further details on the types of businesses or real estate that was acquired. An earlier statement by the government incorrectly identified 65 people as still being held.

Al-Mojeb said a total of 381 people had been questioned in connection with the anti-corruption campaign, which began November 4 and is being spearheaded by Crown Prince Mohammed bin Salman.

Last week, al-Mojeb said 90 people had been released after agreeing to financial settlements and that 95 were still being held. It appears close to 40 were released since then.

Among those released over the weekend was billionaire Saudi Prince Alwaleed bin Talal, who is chairman of Kingdom Holding and has investments in major Western firms such as Twitter, Apple, Lyft and Citigroup. He had been detained for more than 80 days at the luxurious Ritz-Carlton hotel in Riyadh, where dozens of high-profile figures were held, questioned and pressured into forfeiting significant financial assets in exchange for their release.

It was not immediately known what kind of settlement Prince Alwaleed had agreed to. Prince Alwaleed was among at least 11 princes and dozens of businessmen and officials detained in the unprecedented sweep.

Critics say the crown prince has used the purge against high-level individuals to wrangle control of key Saudi companies, sideline potential rivals and silence critics alarmed by his rapid rise to power as he prepares to inherit the throne from his father, King Salman.

Saudi authorities say the campaign is aimed at improving the kingdom's business environment and that sums recovered will be used to fund a cash assistance program for middle and lower-income citizens estimated to cost $8.5 billion this year.

The attorney general said the remaining 56 individuals still in custody have not reached a financial settlement “due to other pending criminal cases, or in order to continue the investigation process.” Those still held could now face prosecution and prison time, the government has previously warned.

In the statement released by the government, authorities appeared to be trying to assuage foreign investors, saying the review of case files of those accused of corruption “has been completed.”

Despite repeated statements that the purge is nearly over, investors remain concerned about doing business in Saudi Arabia, where key business partners and firms could still be targeted.

The government has also not officially released the names of individuals detained nor disclosed the specific allegations against them, leading to concerns of transparency and accountability.

There is also concern that royal family members stung by the sweep and businessmen forced to handover significant financial assets or control of their companies could try and seek some form of retaliation.

Opinion

From hard to harder

From hard to harder

Instead of ‘hard state’ turning even harder, citizens deserve a state that goes soft on them in delivering democratic and development aspirations.

Editorial

Canal unrest
Updated 03 Apr, 2025

Canal unrest

With rising water scarcity in Indus system, it is crucial to move towards a consensus-driven policymaking process.
Iran-US tension
03 Apr, 2025

Iran-US tension

THE Trump administration’s threats aimed at Iran do not bode well for global peace, and unless Washington changes...
Flights to history
03 Apr, 2025

Flights to history

MOHENJODARO could have been the forgotten gold we desperately need. Instead, this 5,000-year-old well of antiquity ...
Eid amidst crises
Updated 31 Mar, 2025

Eid amidst crises

Until the Muslim world takes practical steps to end these atrocities, these besieged populations will see no joy.
Women’s rights
Updated 01 Apr, 2025

Women’s rights

Such judgements, and others directly impacting women’s rights should be given more airtime in media.
Not helping
Updated 02 Apr, 2025

Not helping

If it's committed to peace in Balochistan, the state must draw a line between militancy and legitimate protest.