Saudi Arabia's Prince Alwaleed Bin Talal, a prominent member of the country's royal family and a wealthy investor, has been swept up in connection with a wide-ranging anti-corruption initiative, according to reports.
Saudi Arabia's King Salman
In addition to Bin Talal, former Finance Minister Ibrahim Al-Assaf was also detained and under investigation, Reuters reported, citing a senior Saudi official.
If verified, the arrest of Bin Talal would represent a jarring turn of events as the prince has cultivated an image as the de-facto public face of Saudi finance. It would also be the most dramatic chapter in the evolving narrative of Bin Salman, who has steadily consolidated his authority since his elevation to Defense Minister in early 2015.
Considered one of the most prominent members of the Saudi royal family, Bin Talal has been the subject of numerous profiles in U.S. and international publications. He has made numerous appearances on CNBC dispensing investment advice — such as last month, when he predicted bitcoin was little more than a speculative bubble that would soon "implode"