December 18, 2018 / 6:02 PM / 5 months ago

Saudi collected more than 50 billion riyals in 2018 from Ritz settlements: minister

RIYADH (Reuters) - Saudi Arabian government collected more than 50 billion riyal ($13.33 billion) so far this year from settlements reached with detainees in a crackdown on corruption launched at the end of last year, said Finance Minister Mohammed al-Jadaan on Tuesday.

Scores of top officials and businessmen were detained in Riyadh’s Ritz-Carlton Hotel in a purge, which began in November 2017. Investigators said earlier this year they aimed to seize some $100 billion overall.

Reporting by Stephen Kalin and Marwa Rashad, Writing by Tuqa Khalid in Dubai; Editing by Saeed Azhar

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