Alwaleed bin Talal, a Saudi Arabian prince who serves as a member of the Maxwell School of Citizenship and Public Affairs’ advisory board, was arrested on Saturday on charges related to corruption.

A few hours after Saudi King Salman established a new anti-corruption committee, Alwaleed and more than 10 other princes, four ministers and tens of former ministers were arrested, The New York Times reported.

Alwaleed is an honorary member of Maxwell’s advisory board and, in 1985, graduated from SU with a master’s degree in social science.

He is the 45th richest person in the world, valued at $17 billion, according to Forbes. Salman’s anti-corruption committee has the right to freeze his assets and ban him from traveling, per The New York Times. Previously, Alwaleed pledged to donate $32 billion to “intercultural understanding” charity work, the Associated Press reported.

The New York Times attributed Alwaleed’s arrest to Salman’s process of consolidating power for Crown Prince Mohammed bin Salman, the king’s favorite son.

Alwaleed holds stakes in Apple, Time Warner, Saks and other major companies. He’s also a primary owner of Kingdom Holding, a Saudi-based diversified holdings company worth more than $20 billion.