Saudi Arabia: 28 years imprisonment for people accused of money laundering

An official source in the Saudi Public Prosecution revealed that the public criminal case brought by the Public Prosecutor against the accused in the crime of “money laundering and commercial concealment” before the Ninth Criminal Court in Riyadh resulted in the issuance of judicial rulings against them proving their guilt of money laundering and commercial concealment, indicating that the verdict They were sentenced to various prison terms totaling 28 years, and fines amounting to 20 million riyals (5.3 million dollars).

The provisions included the confiscation of seized amounts of money exceeding two million riyals, two desktop and laptop computers, and a money-counting machine, in addition to the confiscation of other sums of money deposited in bank accounts exceeding 714 thousand riyals, with the recovery and confiscation of the funds transferred outside the Kingdom from the account of the institution used in money laundering. Exceeding 375 million riyals ($ 100 million).

The provisions stipulated the cancellation of the commercial register related to the activity subject of the violation, the revocation of the license, and the obligation for the perpetrators to collect zakat, taxes, fees and any other obligations. The source pointed out that the Public Prosecution investigations proved the crime of money laundering and commercial cover-up in the city of Riyadh, by forming a gang consisting of 4 people of Saudi and foreign nationalities, which ended with the issuance of penalties against them in the case, namely: a citizen and 3 expatriates of foreign nationalities, stressing that the expatriates will be deported from The country immediately after the end of their prison sentence, and preventing them from entering the Kingdom again.

The source stressed that the Public Prosecution follows up and monitors everything that might disrupt financial or economic security, and demands the most severe penalties against the perpetrators in light of the criminal protection established by law.