HIGH-PROFILE ARRESTS IN HUGE SAUDI CORRUPTION CRACKDOWN

Eleven princes, four ministers and many former ministers have been detained in Saudi Arabia as an anti-corruption drive examines allegations of bribery, embezzlement and money laundering.

The arrests came after King Salman decreed the creation of an anti-corruption committee to investigate cases, issue arrest warrants and travel restrictions and seize assets.

Those arrested include billionaire Prince Alwaleed bin Talal, a nephew of the king, who faces allegations of money laundering, bribery and extorting officials.

Prince Miteb bin Abdullah, who had been head of the National Guard, has also been detained; accused of embezzlement and awarding contracts worth billions of dollars to his own companies.

This is a case that will, no doubt, hog the headlines, thanks to its mixture of high-profile figures and eye-watering amounts of money.

Those who have been arrested will, if charged, need to mount a strong evidence-based defence to show they did everything possible to prevent wrongdoing. And everyone else in business should view the case as a warning of what can happen if you fail to introduce adequate preventative measures.

Read our article: CORRUPTION, HOW TO DEFEND YOURSELF