Manama: Saudi Arabia's Court of Appeals has upheld a sentence of six years and a fine of three million Saudi Riyals against a Saudi found guilty of money-laundering.
A travel ban of six years following the end of the prison term was also imposed by the lower court in the Red Sea city of Jeddah and upheld by the Court of Appeals, Saudi daily Okaz reported on Wednesday.
The case emerged after a local bank contacted the authorities to report the sudden swelling of the account of a client to up to two billion Riyals.
The money was deposited in the bank through agents on behalf of the ghost international companies and businesses he allegedly owned.
The anti-money laundering department looked into the case and arrested the suspect upon his return from the capital of an African country.
His case was reviewed by the court in Jeddah in June last year and he was allowed to challenge the verdict.
However, the Court of Appeals upheld the initial sentencing.
Saudi Arabia enacted its anti-money laundering law in 2003, but amended it later after several members of the Shura Council, the national advisory body, called for changes to some of its articles, as well as for adopting additional articles in order to ensure greater oversight and establish an anti-money laundering system.
