RIYADH: Five offenders, a Saudi national and four expatriate Arabs, have been convicted of crimes of money laundering.
Judicial rulings included 20-year prison sentences, fines amounting to SR500,000 ($133,000), and the confiscation of a similar amount involved in the crimes.
In addition, the expatriate offenders will be deported on the completion of their sentences, and all those involved will be permanently prevented from practicing commercial activities.
The investigation revealed that the Saudi allowed the expatriates to manage three commercial ventures, opening bank accounts for them to handle in exchange for a small monthly wage.
It was discovered through the probe that the expatriates were collecting money, depositing it in the accounts of commercial entities and transferring it abroad. The money had been generated from crime and regulatory violations.
A Saudi Public Prosecution source said all behavior that harmed the country’s economic security was prohibited, and criminal.
