Tuesday, January 16, 2024
An expatriate jailed for 5 years in Saudi Arabia for Money Laundering
An expat was caught attempting to smuggle gold out of the kingdom and was charged with money laundering. A Saudi court sentenced the man with five-year jail sentence. Most Viewed Video : Guide to cancel exit re-entry visa in Saudi Arabia
The court also ordered to seize the 24K gold that trying to take away from the Kingdom and that the criminal should be sent out of the kingdom after serving his sentence.
- It was found that the man, whose nationality was not disclosed, attempted to transport 16 gold bars weighing 2 kilograms through a Saudi airport by hiding them in a bag he was carrying on his way back to his home country.
- He was charged with breaking the law of the kingdom that prohibits moving money. However, there was no information given about the date or place of the failed attempt to smuggle gold.
-The Public Prosecution in Saudi Arabia said they were focused on preventing anyone from carrying precious stones to launder money, and they promised that anyone accused of damaging the economy of the kingdom would be put on trial and given harsh punishments. Trending : Saudi Arabia unveils Prince Mohammed bin Salman stadium in Qiddiya city
- As part of its fight against crime, Saudi Arabia has stepped up its efforts to stop people from laundering money in recent years.
- Last year in October, a Saudi court found a group of seven guilty of laundering more than 1 billion riyals. One of them was an Arab living outside of Saudi Arabia, and the other six were Saudi citizens. The sentences were harsh, with some going up to 13 years in jail.
- The Saudi accused were caught setting up business companies and bank accounts for an expatriate, who then used them to get money from unknown sources, put it in the accounts to make it seem like it was real money and send it to someone outside the kingdom.
- The 1.3 billion riyals in money laundering was found. After looking into where the money came from, it was found to be the result of crimes and violating several Saudi rules. See Also : Saudi Arabia to reward financially to Anti-drug whistleblowers
- Last year in August, the kingdom sent two expatriates to court on charges of money laundering of 2.4 million riyals in cash.
- Saudi law says that people who launder money can get up to 15 years in jail and a fine of up to 7 million Saudi Riyals. Anyone who is found guilty in Saudi Arabia is also not allowed to leave the country for the same amount of time as their sentence. After spending his or her time in jail, the non-Saudi criminal is sent back to their home country.
