Six Saudis sentenced for counterfeit money scam, fined SR50,000 each
Authorities vow strict legal measures to ensure integrity of financial transactions
Dubai: Six Saudi citizens have been sentenced to five years in prison and fined SR50,000 each for their involvement in a counterfeit money operation, a special Saudi court announced.
The Economic Crimes Wing of the Public Prosecution found that one defendant ordered SR100,000 in fake currency from a foreign website. The counterfeit notes were circulated within the Kingdom by the group, who also engaged in financial fraud to accumulate illicit gains.
The defendants were arrested, tried and convicted under Saudi Arabia’s Penal Law of Money Counterfeit and laws against financial fraud.
In a statement, the Public Prosecution reaffirmed its commitment to protecting the Saudi riyal and preventing financial crimes. Authorities pledged to take strict legal measures to ensure the integrity of financial transactions and safeguard public trust in the economy.