Jail time period of 52 years was issued to a gang who practiced cash laundering with 10 billion riyals

Jail time period of 52 years was issued to a gang who practiced cash laundering with 10 billion riyals – Public Prosecution

The Public Prosecution in Saudi Arabia mentioned that investigations by the Financial Crimes Prosecution within the Public Prosecution revealed the involvement of an organized gang formation consisting of 11 folks, “2 residents and 9 expatriates”, in committing cash laundering crimes and violations of the anti-cover-up system by exploiting various industrial corporations and their branches in receiving Switch of funds of unknown origin from their financial institution accounts of totaling greater than 10 billion riyals. Follow Saudi Expatriates on Instagram

The prosecution added that the investigations of the Public Prosecution ended with submitting a public case towards the perpetrators, and a preliminary ruling was issued by the competent courtroom to imprison the accused for a complete of 52 years, and fines amounting to 62,500,000 riyals.