Final Verdict Announced by Riyadh Court

A court in Riyadh has issued a final verdict against a Saudi citizen and an Egyptian expatriate for violating Saudi Arabia’s anti-commercial cover-up laws. The penalties include imprisonment, fines, and restrictions on future business activities.

Uncovering the Crime of Commercial Cover-Up

The Ministry of Commerce uncovered the illegal partnership in Zulfi governorate, where the Saudi man enabled the expatriate to engage in contracting without an investment license. Evidence showed equal partnership in project contracts, violating the kingdom's laws.

Court-Imposed Penalties and Consequences

The court sentenced both defendants to two months of imprisonment and imposed undeclared fines. Additional penalties include revoking the business license, liquidating the business, and deporting the expat, who is barred from returning to work in Saudi Arabia.

Stricter Measures to Combat Commercial Cover-Up

Saudi authorities recently introduced an electronic service for institutions to report commercial cover-up cases, enhancing compliance with market rules. The National Programme to Combat Commercial Cover-Up continues to play a vital role in enforcing laws and curbing such activities.

Penalties Under Saudi Arabia’s Anti-Cover-Up Law

Violations of the anti-commercial cover-up law can result in up to five years of imprisonment, fines of up to SR5 million, and confiscation of illicit gains. The law aims to ensure market transparency and protect legal businesses.

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