The Criminal Court in Riyadh has issued judicial rulings against those accused of the crime of money laundering and commercial concealment, and they may be found guilty of the charges against them.
An official source in the Public Prosecution stated that the Public Prosecution’s general criminal case against the accused people because of the money laundering case and sentencing them to various prison terms, totaling 28 years, and obliged to penalty fines of 20 million riyals.
The provisions included the confiscation of seized amounts of money exceeding one million riyals, two desktop and laptop computers, and a money-counting machine, in addition to confiscating other sums of money deposited in bank accounts exceeding 714,000 riyals, with the recovery and confiscation of funds transferred outside the Kingdom from the account of the institution used in money laundering that exceeded 375 million riyals.
The provisions in money laundering have stipulated the commercial register’s cancellation related to the violating activity, the revocation of the license, and the perpetrators’ obligation to collect zakat, taxes, fees, and any other obligations.
The source indicated that the prosecution’s investigations proved that the crime of money laundering and commercial cover-up occurred in the city of Riyadh, by forming a gang consisting of 4 people of Saudi and foreign nationalities, which ended with the issuance of penalties against them in the case with the deportation of expatriates from the country immediately after the end of the prison sentence, and preventing them from entering the Kingdom again.
The source stressed that the Public Prosecution follows up and monitors cases like money laundering or anything that might disrupt financial or economic security and demands the most severe penalties against the perpetrators in light of the criminal protection established by law.