Public Prosecution says 6 people convicted of money laundering imprisoned for 31 years, fined SAR 152 mln

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The Public Prosecution announced that six people were convicted in a money laundering case, and a court ruling was issued to imprison them for 31 years and confiscate the seized funds, as well as impose a fine of more than SAR 152 million, representing the value of illegal funds smuggled abroad, according to an official source.

The investigations proved that a number of citizens, expatriates and fake institutions used their bank accounts for a monthly return of SAR 10,000, to be a cover in the transfer of these illegal funds abroad, Saudi Press Agency reported.

This was done under the umbrella of practicing a commercial activity, which is a criminal act according to Article No. 2 of the Anti-Money Laundering Law.

The court ruling convicted them of the charges and banned citizens from traveling for a period similar to their imprisonment, while deporting foreign suspects from the country after the end of their prison term.