Saudi Crown Prince Mohammed bin Salman ordered Princes arrested as part of corruption clampdown in Saudi Arabia
An unprecedented clampdown on corruption in Saudi Arabia has led to 11 princes, four sitting ministers and dozens of former ministers being detained.
Shares in Kingdom Holdings, his giant investment corporation, dropped 9.9 percent on the Saudi stock market.
The royal decree setting up the committee declared: ‘The homeland will not exist unless corruption is uprooted and the corrupt are held accountable.’
Prince Miteb bin Abdullah has been replaced as head of the National Guard – the highest ranking position of the ruling family in the government.
It is believed the arrests have been made as 32-year-old Crown Prince Mohammed looks to consolidate his hold on power.
The reformer is popular with younger Saudis but Conservatives are concerned the pace is too fast.
The Crown Prince is said to be behind the law change to allow women to drive in Saudi Arabia, an unwinnable war in Yemen and also backs the controversial blockade with neighbouring Qatar.
Saudi defence forces shot down a ballastic missile over the capital city Riyadh yesterday which was believed to have come from separatists in Yemen.