Riyadh – A Saudi court has sentenced a native and four Arab citizens to 20 years in prison and a fine of 500,000 riyals in a case related to money laundering, the Public Prosecution said. It also ordered the confiscation of cash equivalent to the proceeds of the crime and the deportation of expatriates following serving prison terms and fines.
The Public Prosecution has stated that five persons have been charged in connection with money laundering during the investigation conducted by the Economic Crimes Unit. During the financial investigation conducted in the accounts of the defendants and commercial entities, it became clear that a large amount of money was deposited in non-resident accounts and later transferred outside Saudi Arabia. When the source of the money was checked, it was found to be illegal property.
English Summary : Saudi authorities convict 5 people of money laundering
