Morocco Records 236 New COVID-19 Cases    First shipment of Saudi oil derivatives grant arrives at Aden Port    Crown Prince a matchless leader par excellence    200,000 Zamzam water bottles, 37,500 liters provided to worshipers on 27th Night of Ramadan    Al-Falih: Saudi-Pakistani SCC opens wider horizons for economic growth    LuLu launches big Eid deals    Saudi Falcons Club celebrates World Migratory Bird Day    KSrelief Continues Distributing Eid Al-Fitr Clothing to Orphaned Children in Lebanon    Yemen values and praises Saudi Arabia's continuous support    Civil Defense in Jazan dismantles mine washed away by flooding from Yemen    'I am alive, but I feel like I am dead': A migrant grieves the drowning of 3 children    The United Nations remembers the dead of WWII    Kingdom of Saudi Arabia to Hold Hajj for This Year 1442AH    Supreme Court Calls on Muslims to Sight Shawwal Crescent on Tuesday    Prime Minister of Pakistan Leaves Madinah    Weather Forecast for Sunday    India's COVID-19 Cases Rise by over 400,000 Despite State Lockdowns    Kuwaiti Foreign Minister Meets with Mauritania's Prime Minister    Al-Falih: Saudi-Pakistani Supreme Coordination Council Opens Wider Horizons for Economic Growth    Legendary Egyptian singer Hafez to perform in Dubai in an exclusive hologram event    Commercial firms must replace '9200' with toll-free '800', beginning with car agencies    537 activities by authors and creatives from 15 nations to edutain young readers in SCRF    Saudi Arabia to receive foreign tourists from May 17    United World, ITC Sign Three-year Partnership to Launch Sports for Development    Legendary Egyptian Singer Abdel Halim Hafez to perform in Dubai in exclusive hologram event    KAUST researcher using stem cells in treatment of blood diseases    Citizen Account Wins UN WSIS Prize for E-Government Track    Over 7500 Speakers Transmit Sound to Worshippers at the Grand Mosque with Complete Clarity    From whom do we take Shariah? How do we get legitimacy?    Sheikh Salman: Saudi Football Association is distinguished and professional    Sheikh Salman Al Khalifa: Saudi Football Association is distinguished and professional    Asian Handball Championships' Draw to Take Place in Jeddah on Saturday    Saudi Rower Hussain Alireza sets for 2021 Tokyo Olympics qualifiers    Saudi Arabia's Al-Nassr beats Qatari Al Sadd in AFC Champions League    President of Union of Arab Football Associations Meets with Heads of FIFA, AFC and CAF    Saudi Arabia drawn to 3rd Group in FIFA Arab Cup Qatar 2021    Australian cricketers wear full PPE on flight to Delhi Aussie PM tells IPL stars to make 'own arrangements' to return home    Business Lady Led Saudi World Competitiveness Edge, in Banana Planting    Al-Khawada Constitutes One of Khulays Governorate Traditional Dishes    Indian Community in Rafha Recalls Ramadan Habits    Jazan Customs During Ramadan: Traditions and heritage    Welcome to beautiful Ramadan customs    Vaccination does not invalidate fasting, says UAE Fatwa Council    It is high time to correct wrong concepts about women's status    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





60-year jail, SR8mn in fine for 12-member gang convicted of transferring SR593mn
Published in The Saudi Gazette on 09 - 02 - 2021

RIYADH — A specialized court sentenced a 12-member gang, convicted of money laundering, to a total of more than 60 years of imprisonment and fines amounting to SR8 million.
An official source at the Public Prosecution revealed on Tuesday that the members of the gang, who were involved in money laundering and illegal transfer of SR593 million to abroad, included one Saudi woman, her brother, two other citizens, and eight expatriates.
The court also ruled the confiscation of money deposited in local bank accounts, in addition to the money that was found in the homes of the convicts, amounting to more than SR1.4 million.
The verdict also included the confiscation of a number of mobile phones, and portable and personal computers that were used in the crime, in addition to a firearm found in the home of one of the defendants.
The funds transferred outside the Kingdom are being tracked and will be asked to be returned in accordance with the legal procedures.
According to the source, it was found during the investigations carried out by the Public Prosecution, that the citizens created commercial records for commercial entities that were non-existent on the ground, and then opened bank accounts, and handed details of these accounts to expatriates who were proficient in collecting money in illegal ways and depositing them in these accounts.
They transferred more than SR593 million out of the Kingdom in this way, the source said while noting that this constitutes a full-fledged money laundering crime.
The Public Prosecution filed a public lawsuit after the investigations were completed, and the defendants were referred to the competent court, facilitating their trial and issuance of the verdict.


Clic here to read the story from its source.