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HomeUncategorizedSaudi court jails 3 for 18 years for money laundering, fined $133,000

Saudi court jails 3 for 18 years for money laundering, fined $133,000

Thu, 2022-12-01 14:46

RIYADH: Two Saudi citizens and one resident have been sentenced to 18 years in jail and fined $133,000 for money laundering, the Saudi Public Prosecution said on Thursday.

Police investigations earlier revealed that the Saudi citizens had issued commercial registers for several entities and opened bank accounts.

The citizens then handed the resident the commercial registers and the bank accounts, through which they made financial transactions and transferred huge sums of money outside the Kingdom, reported the Saudi Press Agency (SPA).

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