RIYADH: Saudi Public Prosecution said on Thursday that three men including two citizens of Saudi Arabia have been awarded 18 years jail term and 133,000 dollars fine for committing money laundering.
Money Laundering case in Saudi Arabia:
According to investigations, the citizens of Saudi Arabia had issued several commercial registers for different entities and opened accounts in banks. Police said that the citizens of Saudi Arabia also handed over the commercial registers and the accounts of banks to a resident.
Saudi Press Agency reported that the accounts of banks were used for money transactions and transferred huge money outside of Saudi Arabia.
Saudi Public Prosecution said that the Ruppies was produced via illegal means because the accused utilized the commercial registers to transfer the funds abroad. The court announced the verdict and issued the order to confiscate a similar value of the Rupies transferred abroad.
According to the Public Prosecution statement, the third person will be deported from Saudi Arabia after serving his jail term.
