Saudi authorities break up money, gold laundering gang

RIYADH: Saudi authorities said on Sunday they had broken up an organized crime gang that was collecting money illegally and laundering it abroad.
A total of SR64.860 million ($17.296 million) was smuggled, along with 19 kilograms of gold, the Public Prosecution said in a statement.
It also said investigations had ended and gang members were charged with money laundering and bribery. They were handed a range of sentences, with a combined imprisonment of 64 years.
Authorities said that they seized more than SR1.02 million from another offender who was “completing his travel procedures outside the country.” A statement said that vehicles used in the crime were also confiscated. 
The accused Saudi citizens have been banned from traveling for a period similar to their sentences, while foreign nationals in the gang will be deported to their home countries once they have completed their prison terms.
The Public Prosecution said it is now working to recover the laundered money.
It added that it will “spare no effort in enforcing directives” and strictly implementing regulations against all similar crimes.