Saudi ArabiaExpats

Saudi: Citizens and expats arrested for corruption

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.

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.


Arab News

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