Up to 201 businessmen and officials, including international investor Prince Alwaleed bin Talal and Minister of the national guard Prince Miteb bin Abdullah, have been rounded up since November 4 and clocked up in several luxury hotels including Ritz Carlton in Riyadh.
Authorities linked their arrest to the misuse of $100 billion of funds through “systematic corruption and embezzlement over several decades”.
Bloomberg citing sources close to the matter reported that the detainees are signing agreements with authorities to transfer a portion of their assets to avoid trial.
The media adds that some detainees have started transferring funds from personal accounts to government-controlled accounts.
The Financial Times last week said authorities seek to get 70 per cent of some individuals’ assets in exchange for their release.
The anti-corruption commission led by Crown Prince Mohamed bin Salman hopes to recover between $50 billion to $100 billion.
1,700 bank accounts have been seized in the crackdown.
Some Saudis billionaires and millionaires have sold their assets overseas in a move to avoid being targeted in the crackdown.