Saudi Arabian Prince Miteb bin Abdullah at the Elysee Palace in Paris, France June 18, 2014. REUTERS/Philippe Wojazer
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Senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, has been freed after agreeing to pay over $1 billion to settle corruption allegations against him, a Saudi official said Wednesday.The official, who is involved in the crackdown and who spoke on condition of anonymity, said that Prince Miteb was released Tuesday after reaching "an acceptable settlement agreement".Apart from Miteb, the Saudi official said that at least three other suspects had finalized settlement agreements and that the public prosecutor had decided to release several individuals. The prosecutor has decided to put at least five people on trial, the official said, without disclosing their identities.Saudi Arabia's stock market, where many investors have been alarmed by the corruption probe, rose after news of the settlements by Prince Miteb and others.
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