51 Years Jail term, Seizure of 176 million Riyals from a Money Laundering gang of Expats and Citizens
Saturday, March 27, 2021
51 Years Jail term, Seizure of 176 million Riyals from a Money Laundering gang of Expats and Citizens in Saudi Arabia
The Public Prosecution Office in Saudi Arabia announced the imprisonment of 51 years and seized 176 million riyals for the formation of a gang in money laundering, following the investigations and the convicts found guilty of money smuggling.
The investigations of Public Prosecution have revealed that 11 convicts (9 Arab Nationals and 2 Saudi Citizens) were involved in money laundering.
- The convicts used the accounts of commercial institutions in the contracting field to deposit funds and receive transfers from local banks to transfer them abroad, in exchange for 5% commission for each transfer. Most Viewed : Suspending Itikaaf, Iftar, Suhoor buffets in Mosques during Ramadan in Saudi Arabia
- The Prosecution stated a fine of 166 million riyals, the cancellation of the commercial register for 4 institutions, the deportation of the accused arrivals upon the end of their sentences, and banned from entering the Kingdom again, and the prevention of the 2 citizens from traveling for periods equal to their imprisonment.
- The Public Prosecution explained that the rulings included the seizure of seized amounts in cash that is more than 700,000 riyals and the seizure of more than 7 million riyals from the convicts personal accounts.
- The Prosecution said it is closely following up and monitoring activities that threaten the national economy in cooperation with the relevant authorities. Read : India extends ban on Commercial flights up to 30th April
