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Saudi: Citizens and expats arrested for corruption

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Two Saudi citizens have been sentenced to 28 years in prison and fined up to $3.47 million after an investigation revealed that they were involved in an organized crime gang laundering money overseas.

A Saudi man and woman opened commercial records and bank accounts before and handed them over to expats for a monthly fee.

The duo allowed the expats to invest in their commercial unit, use their bank accounts, deposit money they obtained illegally, and transfer it abroad.

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Preliminary ruling of the court included sentencing the gang members to 28 years in prison, a fine of $3.47 million, confiscating funds of over $182 million transferred abroad and deportation of the expats after completion of their prison sentences.

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Source
Arab News

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