Saudi Gazette report
JEDDAH — Authorities imposed on a Lebanese expatriate and his Saudi accomplices involved in a money laundering operation, Al-Hayat newspaper reported on Sunday.
The Administrative Court in Jeddah will hold a hearing on Dec. 20 to look into the case of the Lebanese man who amassed more than SR1 billion in his bank account by illegally doing business in the Kingdom.
Five top Saudi government officials, one of them is a ministry undersecretary, and a renowned Saudi businessman were charged with helping the Lebanese to conduct tasattur, the illegal practice of allowing foreigners to run businesses in the name of Saudis in return for regular payments.
A summary court will hold a separate trial for the men on charges of money laundering.
A source from the Administrative Court said the case involves six Saudis and two Lebanese men.
“They will be tried on charges of money laundering, tasattur and other violations. The accused may face up to 10 years in prison and SR5 million in fine. All of the money earned illegally will be seized by the court,” said the source.
Al-Hayat did not name the Lebanese but said in a report on Tuesday that the company the man operated had a capital of more than SR500 million and he used to transfer large amounts of money home, where he allegedly bought a number of houses.
The Bureau of Investigation and Public Prosecution (BIP) has charged the Saudi businessman and the two Lebanese with tasattur.
According to the company's records, the Lebanese was paid a monthly salary of SR200,000, a housing allowance of SR240,000 and other fringe benefits amounting to SR1 million a year.
According to earlier press reports, his monthly salary was only SR16,000 three years ago. The company has invested in advertising and publicity.
According to court sources, top Saudi government officials Riyadh and the Eastern Province extended exceptional facilities to the defendant. The officials used their influence to ban billboards on rooftops as a favor to the Lebanese though the system permits such advertisements.
