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New wave of arrests in Saudi corruption probe

|By:, SA News Editor

Continuing to consolidate power ahead of ascending to the throne, Crown Prince Mohammed bin Salman steps up his targeting of senior princes and cabinet ministers.

Among those arrested this weekend was billionaire Prince al-Waleed bin Talal, known to Americans at least for his numerous CNBC appearances touting sizable stakes in names like Citigroup, Apple, and Twitter.

"MBS [Mohammed bin Salman] has made it very clear that he will crack down on corruption, and that he is willing to do it from the top first," says a Saudi political analyst.

The arrests, of course, come ahead of the mammoth IPO of Saudi Arabia. That sale could raise in the area of $100B with which The Kingdom could invest in areas outside of oil.

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