11 member money laundering group of local and foreign elements sentenced to 51 years prisons.
Zaka Mohsin, Riyadh,
The public prosecutor in Saudi Arabia has sentenced an 11-member money laundering group of local and foreign elements to 51 years in prison and confiscated 176 million riyals from their possession.
According to the Saudi Prosecutor General, the money laundering mafia involves people from other Arab countries as well as local criminals who tried to send large sums of money abroad illegally through fake accounts with banks.
The investigation revealed that the accused had offered to pay a commission of 5% of the actual amount to the people whose bank accounts were used.
The accused twice transferred money abroad from these accounts. The court, sentenced the accused after hearing the cases against the accused and receiving complete evidence, accused sentenced 51 years imprisonment and confiscation of 176 million riyals.
7 lakh riyals cash has been seized from the possession of the accused while 7 million riyals have been ordered to be confiscated from their bank accounts.
The accused have been fined 166 million riyals, their business permits revoked, 4 business firms closed and deported after completing their sentence.