Al-Marsad newspaper: An official source in the Prosecutor’s Office said that the investigation by the Economic Crimes Prosecutor’s Office concluded with five people (one Saudi and four Arab expatriates) being charged with money laundering.
The investigation procedures revealed that the Saudis had opened three business entities and authorized expatriates in them, and opened bank accounts for these entities and handed them over to the expatriates and allowed them to dispose of them without restrictions in exchange for a small monthly salary.
By searching and examining the bank accounts of the defendants and commercial entities, it was found that the expatriates practiced the conduct of collecting money and depositing it into the accounts of commercial entities and transferring it out of the Kingdom. funds, were found to stem from crimes and violations of a variety of regulations.
The defendants were arrested and charged before the competent court and evidence was presented to support their accusation
And the judicial sentence was handed down, including their condemnation of what was ascribed to them, and a prison sentence of (20) years, and fines of (500,000) riyals, and the confiscation of a similar value of the money on which the crime was committed, and the expulsion of expatriates from the country after the end of their sentence, and preventing commercial entities from permanently exercising commercial activity.
The source stressed that the criminal justice system has conferred a high level of protection on economic transactions and has prohibited any behavior that could offend the country’s economic security, under penalty of serious criminal liability.
