Prince of Saudi Arabia, Al Waleed bin Talal is one the richest persons in the world. He is now under arrest for alleged corruption by the anti-corruption probe led by coronated Prince Mohammed bin Salman.
Everyone looks forward to the present condition of Bin Talal, the owner of an industrial empire worth crores. According to latest reports, his industries are in very bad condition. Officials in the report said that his companies had lost about $ 7.5 billion (about Rs. 5500 crores) within a month.
The world’s top 10 listed Talal is still in the custody of anti-corruption committee. If he does not go out, the business network extends America and Europe will be a major setback.
The report shows that on November 5, Bin Talal was arrested in Saudi. The report further reveals that Bin Talal’s businesses are falling short of this. The big buyers will knock
He started his business with an investment in Kingdom Holding. Through this company, he grew up in the business. Bin Talal has investments in the world’s leading companies including Twitter, Citigroup, and Apple.
No information is available when Bin Talal will be released. There were reports of the possibility of the release of several of the arrested princesses. But there is uncertainty in Bin Talal. In this case, the companies are also subject to decline. A report by Forbes said, “King Holdings has lost one fifth. The report also revealed that the $ 850 billion loss was carried out within a month.
Those financial institutions, who are heavily invested in bin Talal are in trouble. Bin Talal is now at Ritz Carlton hotel in Riyadh. The government has been making this hotel a temporary prison.
The government has put forward a set of criteria for recovering crores of rupees from the corrupted `prisoners’. Many princes and businessmen are on the way to liberation, accepting this condition. The government has announced that 95 percent of the respondents will be released in this manner. But in the case of Bin Talal, the decision is unclear.
Among the arrested, Prince Mithib bin Abdullah, the former chief of the Saudi security guard. Maytib paid the money and got ready for his release.
The allegations of bribery and fraud in government contracts have been raised against those arrested. But there is no particular allegation against any individual. The government has decided to refund the money through the release of the accused.
Those who do not accept government regulations will be imprisoned for up to six months. The investigation will be completed in this period. The prosecutor also said the court judgment will come within this time period.
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