Saudi Prince Freed in $1 billion Settlement

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Senior Saudi Arabian prince Miteb bin Abdullah, has been freed after agreeing to pay over $1 billion to settle corruption allegations against him.

Miteb, 65, son of the late King Abdullah and former head of the elite National Guard, was among dozens of royal family members, high officials and senior businessmen rounded up this month in a crackdown on graft that has strengthened the power of Crown Prince Mohammed bin Salman.

Prince Miteb was accused of embezzlement, hiring ghost employees and awarding contracts to his own firms, including a deal for walkie talkies and bulletproof military gear.

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