Listen Now: Romantic Corruption
A luxury hotel in Saudi Arabia is back open for business; after shutting its doors to moonlight as a prison.
In early November, Saudi Arabia launched a crackdown on corruption by imprisoning dozens of princes, top businessmen and senior officials. While the cases were being investigated and settled they occupied, and were not allowed to leave, half the hotel’s four hundred and ninety two rooms. The other half were locked and left unoccupied.
The men were detained following the sudden appointment of Crown Prince Mohammad Bin Salman in June. The thirty-two-year-old led the investigations as he took over power. Now police say the settlements will return more than one hundred billion dollars to the economy. And some cases will be prosecuted.
While the criminal activity wraps up, it’s back to business for the Ritz Carlton where the men were being held. According to their website, they are now taking reservations beginning Valentine’s Day weekend. However the hotel is warning people that the reservation could be canceled if the hotel lockdown is extended.
Nothing says romance like government corruption and a little extra security.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.