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Billionaire Al-Amoudi reportedly released from Saudi Prison

Saudi _ billionaire_Al Amoudi
Source :

January 27,2018

Ethiopian born Saudi Billionaire, Mohammed Al Amoudi, is reportedly released from Saudi Arabia prison.

Addis Fortune, local news source, reported today that it has confirmed from various sources that Al Amoudi is released. He was arrested by Saudi Arabian authorities in November 2017 as the Kingdom mounted crackdown on corruption.

The circumstance under which he is released remains unknown and it is unclear if he is in Ethiopia.

There had been reports in the past the Saudi Arabia started talks with Billionaires arrested at the Riz Carlton Hotel in Riyadh, including Al Amoudi, with aim to release the prisoners in exchange for huge sum of money to be paid to the Saudi government.

Al Amoudi was among those billionaires who refused to give up a big chunk of his wealth to secure his release from prison, according to reports in January 2018.

He has a huge business empire in Ethiopia estimated over three billion US dollars. Last year, the Ethiopian government declined to renew his gold mining license after residents in the area lodged complaints on grounds of environmental pollution.

He has also lost plots of land he took for redevelopment in Addis Ababa.

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