Public Prosecution says SAR 4 bln seized, gang gets 25 years prison for money laundering

12/09/2022 Argaam
Logo ofPublic Prosecution

Logo of Public Prosecution

Saudi Arabia’s Public Prosecution referred a criminal gang, consisting of a Saudi citizen and five expatriates, to the competent court on charges of money laundering to the tune of at least SAR 4 billion.

 

The Saudi citizen issued commercial records and opened bank accounts for expatriates to transfer money outside the Kingdom, Al-Ekhbariya reported, citing the Public Prosecution.

 

According to the ruling, the funds were confiscated with a fine. The Saudi citizen was handed 10 years in prison, while the five expatriates got terms up to 25 years.

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