In a significant development, a Saudi competent court has recently handed down prison sentences and imposed financial fines on a Saudi citizen and an Arab expatriate. The court found them guilty of engaging in money laundering and commercial concealment, leading to serious consequences for their actions. An official source from the Public Prosecution made this announcement, shedding light on the details of the case.

After meticulous investigations conducted by the Economic Crimes Prosecution, the defendants were charged with their alleged involvement in these illicit activities. The probe revealed that the citizen facilitated the expatriate's engagement in commercial activities related to the medical supplies industry, allowing the latter to work independently for a monthly wage.

Moreover, the citizen enabled the expat to purchase and sell medicines from various companies, enter into contracts with government agencies, engage in negotiations with real estate owners, and carry out fund deposits and transfers to different entities.

The investigation further uncovered that the expatriate had deposited an astounding amount of over SR7 million before subsequently transferring it outside Saudi Arabia, indicating the magnitude of the money laundering operation.

During the examination of the commercial entities involved, the investigation team discovered the proceeds of the money laundering crime, totaling SR6 million. Additionally, they seized five credit cards, five commercial entity seals, two checkbooks, and nine signed blank checks as evidence.

Consequently, the Public Prosecution referred both defendants to the competent court, which delivered a verdict sentencing each of them to four years in prison and imposing fines amounting to a total of SR6 million. Furthermore, the court ordered the confiscation of assets equivalent to the value of the committed crime and its proceeds. Once the expatriate completes the sentence, he will be deported from Saudi Arabia.

Emphasizing the commitment to safeguarding the Kingdom's economy, the source reiterated that the Public Prosecution remains steadfast in its determination to uphold justice. It serves as a warning that those who attempt to undermine Saudi Arabia's economic security will face severe consequences, with the possibility of increased penalties.