Saudi Arabia... 17 defendants were sentenced to 91 years in prison and 2.5 billion riyals were confiscated
An official source in the Public Prosecution in Saudi Arabia stated that specialized investigations have proven the commission of an organized criminal formation (residents and citizens) numbering 17 people, the crimes of cover-up and money laundering, with the contribution of male and female citizens in this regard;
For extracting commercial records, opening bank accounts, and handing them ATM cards to the other defendants “of Arab nationalities” in return for a monthly salary, where they deposited sums of money obtained illegally in those bank accounts, then transferred them outside the country.
According to the Saudi Press Agency (SPA), the source explained that the Public Prosecution's procedures from the specialized team in economic crimes culminated in the issuance of a preliminary ruling by the competent court, convicting the accused of what was attributed to them, and punishing them with the following:
1. Imprisonment for varying periods, totaling 91 years.
2. Confiscation of what is equivalent to the value of the money on which the laundering operations were carried out, which exceeded 1,745,000,000 riyals.
3. Confiscation of the cash seized in the possession of the accused, “the proceeds of the crime of laundering,” amounting to approximately (1,800,000) riyals.
4. Confiscation of funds withheld in the bank accounts of commercial entities amounting to 1,599,000
5. Financial fines amounting to 800,600,000.
6. Confiscation of the proceeds of crime (vehicles and electronic devices).
7. Preventing the accused (citizens) from traveling for a period similar to their imprisonment, and deporting the accused (residents) from the country after the end of their sentences.
8. Liquidation and write-off of commercial activities.
The source affirmed the Public Prosecution’s constant and continuous endeavor to combat financial crime in all its forms and types, and its firm determination to document ways to preserve the gains and economy of the country, and it will not hesitate to initiate a severe criminal case against those who tempt themselves to commit financial crimes, or compromising the strength of the Kingdom’s economic security.
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