Senior Saudi Prince Miteb bin Abdullah has been released after being detained for three weeks as part of a sweeping "anti-corruption" drive in the country, officials said.
Prince Miteb, once seen as a contender to the throne, was freed on Tuesday after agreeing to an "acceptable settlement" with authorities of more than $1 billion, the BBC reported.
He was one of more than 200 princes, ministers and businessmen detained in an anti-corruption drive on November 4.
At least three others had also agreed to settlements, according to officials.
The prince has so far not commented and it was not clear whether he was now able to move freely or whether he was under some form of house arrest.
The 65-year-old son of the late King Abdullah was the most politically influential royal detained under the orders of a newly-formed anti-corruption committee headed by his 32-year-old cousin, Crown Prince Mohammed bin Salman.
Prince Miteb was minister of the National Guard, an elite security force with 100,000 personnel that is tasked with protecting royal leaders, but was sacked hours before his detention.
He was reportedly held at the five-star Ritz-Carlton hotel in Riyadh along with his brother Prince Turki bin Abdullah, a former Governor of Riyadh province, the BBC reported.
Also in detention were billionaire investor Prince Alwaleed bin Talal, MBC TV network owner Alwalid al-Ibrahim, former head of the Saudi Arabian General Investment Authority Amr al-Dabbagh and former chief of the Royal Court Khalid al-Tuwaijri.
