The Public Prosecution announced that a Saudi court sentenced one Saudi and four Arabs to 20 years in prison and fines of SR500,000 for money laundering.
After serving his jail term and paying the fines, the court ordered the expatriate to be deported, as well as the proceeds of the crime.
A Public Prosecution official confirmed that five people involved in money laundering were indicted following investigations conducted by its Economic Crimes wing.
According to investigations, the Saudi citizen registered commercial entities, opened bank accounts for them, and handed them over to the expatriate so he could do business on their behalf.
Financial investigations carried out on the defendants' and commercial entities' accounts revealed that the expatriate had deposited large amounts of money in the accounts and transferred them outside Saudi Arabia.
Verifying the source of the funds revealed that they were illegal. It was concealed as a legitimate source by the accused.
Defendants were arrested and tried before the competent court, which issued a verdict.
