The Public Prosecution Office in Saudi Arabia announced the imprisonment of 51 years and seized 176 million riyals for the formation of a gang in money laundering, following the investigations and the convicts found guilty of money smuggling.

The investigations of Public Prosecution have revealed that 11 convicts (9 Arab Nationals and 2 Saudi Citizens) were involved in money laundering.

- The convicts used the accounts of commercial institutions in the contracting field to deposit funds and receive transfers from local banks to transfer them abroad, in exchange for 5% commission for each transfer.

- The Prosecution stated a fine of 166 million riyals, the cancellation of the commercial register for 4 institutions, the deportation of the accused arrivals upon the end of their sentences, and banned from entering the Kingdom again, and the prevention of the 2 citizens from traveling for periods equal to their imprisonment.

- The Public Prosecution explained that the rulings included the seizure of seized amounts in cash that is more than 700,000 riyals and the seizure of more than 7 million riyals from the convicts personal accounts.

- The Prosecution said it is closely following up and monitoring activities that threaten the national economy in cooperation with the relevant authorities

SOURCE : SAUDI EXPATRIATES

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