RIYADH: Two Saudi citizens and one resident have been sentenced to 18 years in jail and fined $133,000 for money laundering, the Saudi Public Prosecution said on Thursday.

Police investigations earlier revealed that the Saudi citizens had issued commercial registers for several entities and opened bank accounts.

The citizens then handed the resident the commercial registers and the bank accounts, through which they made financial transactions and transferred huge sums of money outside the Kingdom, reported the Saudi Press Agency (SPA).

The Public Prosecution said funds were generated through “illegal” means as the accused used the commercial registers as a cover to transfer the money abroad.

The court ruled confiscating a similar value of the funds transferred abroad and the proceeds of the crimes.

The resident will be deported after serving his jail term, read the Public Prosecution statement.