Saudi police bust gang for illegal transfer of money abroad
The Riyadh-based gang transferred over Sr100 million to unknown accounts abroad
Dubai: Riyadh police have arrested a 10-member gang for transferring money abroad in irregular ways.
The gang, which is composed of a Saudi man and nine Sudanese men, carried out money transfers of more than Sr100 million illegally, Riyadh Police spokesperson Colonel Shaker Al Tuwaijri said.
'After receiving a tip-off, about illegal operations for money transfer, we carried out criminal investigation that led to the arrest of gangsters who were able to transfer large amounts of money abroad in irregular ways,' he revealed.
Col. Al Tuwaijiri said the suspects, in their 40s and 50s, were arrested after evidence about transfer of anonymous funds to overseas accounts abroad.
He said the suspects confessed that they carried out money transfers in collaboration with 10 business entities that are not licensed to practice financial activities.
“The suspects were arrested and referred to the public prosecutor office in Riyadh for legal action. They also had SR700, 000 in their possession at the time of arrest,” Col. Al Tuwaijri added.