Saudi Arabia

Saudi Arabia: Gang arrested, fined for money laundering

A gang in Saudi Arabia has been arrested and fined SR1.08 million ($288,000) for money laundering.

Around SR5 million was seized and nearly SR2 million was confiscated from their bank accounts, Saudi Press Agency (SPA) reported.

A sum of more than SR465 million that was transferred abroad was also confiscated.

Saudi members of the gang will be subject to a travel ban and non-Saudi members will be deported once they have served their sentences.


Arab News

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