Saudi Arabia on Saturday released the owner of the influential Arab satellite network MBC nearly three months after his arrest in an anti-corruption drive targeting the kingdom's elite, sources told AFP. Waleed al-Ibrahim was among some 350 suspects rounded up since November 4, including billionaire princes and ministers who were detained in Riyadh's luxury Ritz-Carlton hotel. Ibrahim held a family gathering at his residence after his release, three MBC employees told AFP on condition of anonymity. The Financial Times reported that authorities had ordered Ibrahim to hand over his controlling stake in MBC to secure his release. The most high-profile target of the crackdown was billionaire Prince Al-Waleed bin Talal, dubbed the Warren Buffett of Saudi Arabia.

Source: dna January 27, 2018 05:48 UTC