RIYADH – Saudi Arabian billionaire Prince Alwaleed bin Talal, detained inthe kingdom’s sweeping crackdown on corruption, said on Saturday that heexpected to be cleared of any wrongdoing and released from custody withindays, with his vast assets intact.
Prince Alwaleed was speaking in an exclusive interview with Reuters at hissuite in Riyadh’s Ritz-Carlton hotel, transformed into a luxurious prisonto hold tycoons and royals.
He has been confined there for more than two months along with dozens ofother suspects, part of Crown Prince Mohammed bin Salman’s bold plan toconsolidate control and reform oil superpower Saudi Arabia.
It was the first time the prince, one of the nation’s most prominentbusinessmen, has spoken publicly since his detention.
Prince Alwaleed said he was continuing to maintain his innocence of anycorruption in talks with authorities. He said he expected to keep fullcontrol of his global investment firm Kingdom Holding Co without beingrequired to give up assets to the government.
MISUNDERSTANDING
He described his confinement as a misunderstanding and said he supportsreform efforts by the crown prince, known as MbS.
Prince Alwaleed was an early advocate of women’s employment in Saudi Arabiaand a lifting of the ban on women driving. In September, King Salmanordered that the restriction should be lifted next year.
“There are no charges. There are just some discussions between me and thegovernment,” he said in the interview, conducted shortly after midnight. “Ibelieve we are on the verge of finishing everything within days.”
Prince Alwaleed appeared grayer and thinner than in his last publicappearance, a television interview in late October, and had grown a beardwhile in detention.
“I have nothing to hide at all. I‘m so comfortable, I‘m so relaxed. I shavehere, like at home. My barber comes here. I‘m like at home, franklyspeaking,” he said.
“I told the government I’d stay as much as they want, because I want thetruth to come out on all my dealings and on all things that are around me.”
The flamboyant prince, in his 60s, is the face of Saudi business for manyforeigners, often appearing on international television covering hisdiverse investments and lifestyle.
A 30-minute interview, including a tour of his suite, was granted largelyin order to disprove rumours of mistreatment and of being moved from thehotel to a prison.
TENNIS SHOES, VEGETARIAN MEALS
Prince Alwaleed showed off the comforts of his gold-accented privateoffice, dining room and kitchen, which was fully stocked with his preferredvegetarian meals.
In the corner of his office sat tennis shoes, which he said he usedregularly for exercise. A television played business news programmes, and amug with an image of his own face on it was perched on the desk.
The release of Prince Alwaleed, whose net worth has been estimated byForbes magazine at $17 billion, is likely to reassure investors in hisglobal business empire as well as in the Saudi economy broadly.
Directly or indirectly through Kingdom Holding, he holds stakes in firmssuch as Twitter Inc (TWTR.Nlink>) andCitigroup Inc (C.Nlink>), and hasinvested in top hotels including the George V in Paris and the Plaza in NewYork.
Dozens of princes, senior officials and top businessmen were detained whenCrown Prince Mohammed launched his purge in early November, shocking Saudiswho never imagined the business elite or royalty could come under closescrutiny.
Allegations against Prince Alwaleed included money laundering, bribery andextorting officials, a Saudi official told Reuters at the time.
He is also known for his outspoken views on politics – making headlines in2015 when he called Donald Trump a “disgrace” on Twitter during the USelection campaign.
The prince said he was able to communicate with family members andexecutives at his business during his time in detention.
Asked why he ended up held in the hotel and became one of itslongest-serving detainees, he said:
“There’s a misunderstanding and it’s being cleared. So I’d like to stayhere until this thing is over completely and get out and life goes on.”
“We have now a new leadership in Saudi Arabia, and they just want to crossall the Ts and dot all the Is. And I said: ‘Fine, that’s fine with me, noproblem at all. Just go ahead.’”
Authorities said they aimed to reach financial settlements with mostsuspects and believed they could raise some $100 billion for the governmentthis way – a huge windfall for the state, which has seen its financessqueezed by low oil prices.
In recent days there have been signs the purge is winding down. Severalother prominent businessmen, including Waleed al-Ibrahim, owner of regionaltelevision network MBC, have been released, an official source told Reuterson Friday. Terms of any settlement were not revealed.
Prince Alwaleed said his own case was taking longer to conclude because hewas determined to clear his name completely, but he believed the case wasnow 95 percent finished.
The prince said he was particularly upset by media reports that he had beensent to prison and tortured.
”It’s very unfortunate. I was planning to do an interview when I got out,which I think will be imminently.
“But I decided to accelerate the process and accept this interview todaybecause these various rumours took place. They’re unacceptable completely.They are just a bunch of lies.”
After freedom, the prince said, he plans to continue living in Saudi Arabiaand getting back to the high-paced and complex challenge of juggling hisglobal interests.
“I will not leave Saudi Arabia, for sure. This is my country. I have myfamily, my children, my grandchildren here. I have my assets here. Myallegiance is not on the table.” – AGENCIES