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Saudi Graft Settlements May Top $100 Billion as Ritz Empties

  • Attorney general says 90 people have agreed to settle so far
  • About 95 suspects remain at Ritz-Carlton hotel in Riyadh
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ADCB's Jannelli Says Saudi Arabia Is a Long Term Reform Story

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Saudi Arabia is winding down a controversial anti-corruption drive that led to dozens of princes and billionaires being detained at the Ritz-Carlton hotel in Riyadh.

Talks with suspects are expected to end this month and authorities are likely to recover more than $100 billion in settlements, a senior government official said, asking not to be identified because the details are private. Those who don’t reach deals will be referred to prosecutors, the official said.