51 years imprisonment and the confiscation of 176 million riyals. Today (Friday) the Public Prosecution announced the issuance of judgments against forming a gang that professes money laundering, with imprisonment for periods of 51 years and fines and confiscations exceeding 176 million riyals.
51 years imprisonment and the confiscation of 176 million riyals
The prosecution stated that its investigations revealed the involvement of 11 accused of Arab nationality and two citizens in money laundering and smuggling operations by using the accounts of commercial establishments working in the field of contracting to deposit funds and receive transfers from banks and internal banks, and then transfer them to accounts in banks and external banks in exchange for 5 percent. % Of every external transfer.
Public Prosecution indicated that the provisions included confiscating sums of money seized in cash exceeding 700,000 riyals and confiscating funds seized and seized in their personal accounts that exceeded 7 million riyals.
It was pointed out that the fines amounted to 166 million riyals, the cancellation of the commercial register of 4 commercial entities, the deportation of expatriates from the country as soon as the prison sentence issued against them ends, and the prevention of them from entering the Kingdom again, and the prevention of citizens from traveling for periods similar to their prison terms.
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