SAUDI ARABIA

2 expats face trial over charges of money laundering worth SR 2.48 million

August 28, 2023
It was revealed in the investigation that the two defendants possessed money estimated at SR2480000 and they deposited it in accounts of commercial entities
It was revealed in the investigation that the two defendants possessed money estimated at SR2480000 and they deposited it in accounts of commercial entities

Okaz/Saudi Gazette

RIYADH — The case of two expatriates, who were accused of money laundering, amounting to SR 2.48 million, has been referred to the competent court in Saudi Arabia.

An official source at the Public Prosecution stated that the investigations carried out by its economic crimes wing have concluded that two residents have been charged with money laundering.

It was revealed in the investigation that the two defendants possessed money in cash estimated at SR2480000 and they deposited it in accounts of commercial entities, concealing the nature, source and ownership of the transferred funds. By verifying its source, it was found that the money resulted from crimes and violations of a number of regulations.

The defendants were arrested, and a criminal case was filed against them before the competent court, including evidence for the charges against them, pleading the court to award them penalties prescribed by law.

Meanwhile the commercial entities were referred to the competent authority to take the necessary action against them.

The source reiterated the Public Prosecution’s determination and efforts to combat economic crimes, and to file cases in front of the competent court against anyone who tries to harm economic and financial security, with demanding severe penalties for them.


August 28, 2023
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