Dubai, United Arab Emirates (CNN) – The Saudi Public Prosecution announced on Monday the indictment of a criminal organization consisting of six citizens and an expatriate of Arab nationality for committing the crime of money laundering, worth more than one. billion Saudi riyals, approximately ($276 million), according to Saudi News Agency (SPA).
She added in a statement that the Public Prosecution Service for Economic Crimes had completed its investigation into the criminal organization because “investigative procedures showed that citizens accessed data from commercial entities, opened bank accounts for them and handed them over to the expat who exploited them with the aim of collecting money of unknown origin and depositing them into the entities’ accounts to give them legitimacy.” And transfer it outside the Kingdom,” the agency said.
The statement explained that “the laundered money amounted to more than one billion and thirty-five million Saudi riyals, and upon verification of the origin of the money, it was found that it was the result of crimes and violations of a number of rules.” according to (SPA).
The Public Prosecutor confirmed that “by arresting the suspects, referring them to the competent court and presenting proof of their accusation, a judgment was issued against them convicting them of what was attributed to them, charging them with various were imprisoned for periods of up to 13 years, fines and confiscation of the seized money and resources used in the crime, while the Public Prosecution Service continued legal proceedings to trace and investigate the funds and their recipients take necessary action against them,” the agency quoted the statement as saying. as said.