The information ministry separately said the bank accounts of those arrested will be "frozen" and any assets related to the corruption cases will be registered as state property.
The breadth and scale of the arrests appears to be unprecedented in modern Saudihistory, said Kristian Ulrichsen, a fellow at the Baker Institute for Public Policy at Rice University.
It comes just three months after free shipping promo code hollister 2016 Prince Mohammed bin Nayef was ousted from the line of succession and from his post as Interior Minister, overseeing internal security.
To analysts, Prince Mohammed's meteoric rise has seemed almost Shakespearean in its aggression and calculation.Riyadh: Saudi Arabia arrested 11 princes, including a prominent billionaire, and dozens of current and former ministers, reports said, in a sweeping crackdown as the kingdoms young crown prince consolidates power.Since the start of 2017, Kingdom Holding has lost around 15pc of its market value.Saudi Arabia arrested 11 princes, including a prominent billionaire, and dozens of current and former ministers, reports said, in a sweeping crackdown as the kingdom's young crown prince consolidates power.Saudi billionaire Prince Al-Waleed bin Talal was among those arrested, Saudi news websites said though there was no official confirmation.Meanwhile, the kingdom's top council of clerics tweeted that anti-corruption efforts were as important as the fight against terrorism, essentially giving religious backing to the crackdown.The employee spoke on condition of anonymity due to fear of repercussions.Prince Mitebs father was the late King Abdullah, who also had led the National Guard and had transformed it into a powerful and prestigious force tasked with protecting the ruling Al Saud family, as well as important holy sites in Mecca and Medina, and oil.Also Read, billionaire prince with stakes in Twitter, Apple among those arrested in Saudi sweep.
Separately, the head of the Saudi National Guard, once a leading contender to the throne, as well as the navy chief and the economy minister were replaced in a series of high-profile sackings that sent shock waves in the kingdom.
Shares of 'arrested' Saudi billionaire's company dive.
The King ousted one of the countrys highest-level Royals from power, removing Prince Miteb bin Abdullah as head of the National Guard.His removal consolidates MBS's control of the kingdom's security institutions.Al-Arabiya also reported that the committee is looking into devastating and deadly floods that overwhelmed parts of the city of Jiddah in 2009 and is investigating the Saudi governments response to the Middle East Respiratory Syndrome (mers) virus that has killed several hundred people.State-run, saudi Press Agency said the commission's goal was to preserve public money, punish corrupt people and those who exploit their positions.Also read: Is Saudi Arabia moving towards moderation?There was fevered speculation on social media that the arrested figures were being held at Riyadh's Ritz Carlton, a palatial hotel originally planned as a palace for guests of the royal family.His removal consolidates MBSs control of the kingdoms security institutions.Prominent billionaire Al-Waleed bin Talal was among the princes arrested late Saturday, a government source told AFP, immediately after a new anti-corruption commission headed by Crown Prince Mohammed bin Salman was established by royal decree.
Meteoric rise, the crackdown follows a wave of arrests of influential clerics and activists in September as the 32-year-old prince, often known as MBS, consolidates his hold on power.