Two Saudis sentenced to 28 years in prison, fined SR 13 million for money laundering
Helped expats transfer money obtained illegally outside the country
Dubai: Two Saudi citizens have been sentenced to 28 years in prison and fined SR 13 million for helping smuggle money outside the Kingdom, local media reported.
According to reports, the two suspects, a man and woman, opened commercial files and bank accounts on behalf of a number of expatriates in exchange of a monthly wage.
Transfer abroad
They also enabled expats to invest in their business, so as to be able to deposit money obtained illegally into the business official accounts and transfer them abroad.
Upon receiving a tip-off about the illegal activity, the Saudi Department of Economic Crime Investigation has launched an immediate investigation into the incident and ordered the arrest of the suspects along with the expats who will be de deported after completing their jail terms.
The department has also ordered the confiscation of the money transferred aboard which totaled SR 685.