Saudi Authorities Jail 6 People in Money Laundering Cases

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Authorities Jail 6 People in Money Laundering Cases

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

Saudi authorities have convicted six suspects in money laundering cases, an official source at the Public Prosecution announced on Sunday.

Judicial verdicts were issued against the six, sentencing them to 31 years in jail and slapping them with fines, amounting to more than SR152 million.

The fines represent the equivalent value of illegal funds that the convicts smuggled outside the Kingdom. The court rulings also included a travel ban on the convicted citizens for a period equal to their jail terms and the deportation of the expatriate convicts after serving their prison term.

Some citizens, who are owners of commercial entities such as furniture upholstery and flower business as well as fake establishments, and several expatriates were involved in money laundering transactions.

The Public Prosecution source said that the investigations had proved that these citizens allowed the expatriates to use their bank accounts, in return for a monthly fee of SR10,000, to be a cover in transferring their illegal funds to outside the Kingdom. The transactions were made under the pretext of practicing bogus commercial activities that are considered a criminal act according to article two of the Anti-Money Laundering Law.

The source noted that the Public Prosecution has been exerting concerted efforts, in coordination with the relevant government bodies and agencies, such as the Ministry of Commerce, the Zakat, Tax and Customs Authority, and the Saudi Central Bank, to achieve the desired results in combating all money-related crimes.

It also stressed that the Public Prosecution would lay down severe penalties against those involved in activities that are harmful to the Kingdom’s financial and economic security.



Saudi Arabia, Egypt Stress Need for Immediate Ceasefire in Lebanon, Gaza

Saudi Foreign Minister Prince Faisal bin Farhan bin Abduallah and his Egyptian counterpart Badr Abdelatty meet in Riyadh in August. (SPA)
Saudi Foreign Minister Prince Faisal bin Farhan bin Abduallah and his Egyptian counterpart Badr Abdelatty meet in Riyadh in August. (SPA)
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Saudi Arabia, Egypt Stress Need for Immediate Ceasefire in Lebanon, Gaza

Saudi Foreign Minister Prince Faisal bin Farhan bin Abduallah and his Egyptian counterpart Badr Abdelatty meet in Riyadh in August. (SPA)
Saudi Foreign Minister Prince Faisal bin Farhan bin Abduallah and his Egyptian counterpart Badr Abdelatty meet in Riyadh in August. (SPA)

Saudi Arabia and Egypt stressed on Friday the need for an “immediate and permanent ceasefire in Lebanon and Gaza.”

Saudi Foreign Minister Prince Faisal bin Farhan bin Abduallah held telephone talks with his Egyptian counterpart Badr Abdelatty to discuss the situation in Lebanon and the Israeli escalation in the region, given the ongoing coordination and cooperation between Riyadh and Cairo.

An Egyptian foreign ministry spokesman said the FMs condemned the Israeli assault on Lebanon that has left hundreds dead and wounded.

He stressed Saudi Arabia and Egypt’s “full solidarity with Lebanon and its brotherly people during this crisis.”

They underlined the importance of offering all forms of humanitarian assistance to the people and enabling the state and all of its institutions to perform their duties and impose its sovereignty throughout the country.

The FMs expressed their categorical rejection of any measures that may impact Lebanon’s sovereignty across its territories.

Moreover, they warned that the prolongation of the escalation may have consequences on the people of the region.

Prince Faisal and Abdelatty called for the full implementation of United Nations Security Council resolution 1701 by all concerned parties.

Furthermore, the FMs called on the international community, especially the Security Council, to assume its responsibilities in reaching an immediate and permanent ceasefire in Lebanon and Gaza.

Saudi Arabia and Egypt will continue to coordinate to address the dangers in the Arab region caused by the Israeli assault against the Lebanese and Palestinian people.