Al-Marsad newspaper: An official source in the Public Prosecution stated that the investigations of the Economic Crimes Prosecution ended with the accusation of a gang organization consisting of a citizen and five expatriates of Arab nationalities on charges of money laundering.
The investigation procedures revealed that the citizen extracted commercial records for a number of entities, opened bank accounts, and handed over the entities and accounts to residents, who in turn carried out huge financial operations “financial deposits and transferred them abroad.” And by verifying the commercial entities and their customs transactions, it was found that there were no customs imports for them, and by checking the source of funds, it was found They resulted from crimes and violations of a number of regulations, as they were arrested and referred to the competent court on charges of money laundering exceeding (4,290,000,000) four billion two hundred and ninety million Saudi riyals.
The ruling was issued containing proof of what was attributed to them, and a ruling was issued to confiscate a similar value of funds transferred abroad, confiscate proceeds of crime from funds seized in bank accounts and commercial real estate, and fines amounting to (200,000,000) two hundred million riyals, and imprisonment for a period of (10) ten years for the citizen. He was prevented from traveling for a period similar to his imprisonment, and expatriates were imprisoned for twenty-five years, and expelled from the country following serving their sentences.
The source stressed that the Public Prosecution is continuing to protect the economy and financial capabilities, and that it will not tolerate in demanding tougher punishment for anyone who seeks to harm the country’s financial security.
