Saudi billionaire Mohammed al-Amoudi released from detention

The tycoon, who had a net worth estimated to be $10.9bn, was detained as part of 'anti-corruption purge' in 2017.

Saudi Arabia has freed Saudi-Ethiopian billionaire Mohammed al-Amoudi, more than a year after the tycoon was detained under the kingdom's controversial anti-corruption campaign.

Ethiopian Prime Minister Abiy Ahmed confirmed Amoudi's release on Twitter on Sunday, saying he had raised the issue with Crown Prince Mohammed bin Salman (MBS) during a trip to Riyadh last May.

A family office spokesman told Reuters that Amoudi had returned to his home in the western city of Jeddah.

Amoudi was detained at Riyadh's Ritz-Carlton hotel in November 2017 along with dozens of princes, officials and businessmen after MBS launched his so-called "anti-corruption purge".

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Allegations against those detained included money laundering, bribery, and extorting officials.

The crackdown was in response to "exploitation by some of the weak souls who have put their own interests above the public interest, in order to illicitly accrue money," a royal decree at the time said. Read more...