The move was part of a sweeping and unprecedented roundup of at least 10 other princes, four ministers and dozens of former ministers, hours after the Saudi ruler, King Salman, decreed the creation of a powerful new anticorruption committee, led by his favorite son and top adviser, Crown Prince Mohammed bin Salman.
SPA reported on its official online, quoting King Salman announcing the formation of the committee saying, "In view of what we have noticed of exploitation by some of the weak souls who have put their own interests above the public interest, in order to, illicitly, accrue money and as we have taken care, in this regard, since we assumed the responsibility to follow these matters out of our pledges towards the homeland and the citizen". His removal gives the crown prince, who is already the Saudi defense minister, tighter control over the kingdom's security services.
With the arrest of Prince Alwaleed bin Talal, the prominent billionaire investor, Saudi Arabia has touched one of the richest and most influential investors in the world.
Al-Mojeb stressed that all parties are considered innocent until proven guilty and "retain full legal privileges relating to their personal and private property, including funds".
The attorney general said Sunday the newly-formed anti-corruption committee headed by Crown Prince Mohammed bin Salman is conducting investigations to ensure transparency and good governance.
The committee is tasked "to identify offenses, crimes, persons and entities involved in cases of public corruption".
Those detained included a number of government officials including Prince Turki bin Abdullah, former governor of Riyadh province, Khalid Al Tuwaijri, former chief of the Royal Court and Ibrahim Al Assaf, former finance minister, according list published by Reuters.
Ritz Carlton spokeswoman Sarah Walker-Kerr declined to discuss Sunday what was happening at the hotel.
He was among 11princes, four ministers and tens of former ministers detained, two senior officials said.
Shares in Kingdom Holding plunged 9.9 per cent on Sunday morning.
Kristian Coates Ulrichsen, a research fellow at the James A Baker III Institute for Public Policy at Rice University, told the Associated Press the arrests were created to further smooth the crown prince's eventual succession to the throne. His ouster as head of the National Guard essentially sidelines one of the most formidable rivals to the current crown prince, who has amassed enormous power in less than three years since his father, King Salman, ascended to the throne.