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posted ago by ThankGod ago by ThankGod +84 / -1

Saudi Arabia convicts 24 gang members in $4.5 bln money laundering case

The gang members, including Saudi nationals and expatriates, were also fined a total of $19.9 million and ordered to hand over all the money found at the crime scene – which is estimated to amount to billions of Saudi riyals.

The court said that the group carried out their criminal operations within an organized framework, under the guise of commercial facilities that included factories, companies, institutions, and medical clinics.

The gang members took part in money laundering, collecting and depositing the money, as well as transferring the funds abroad to complete the operation, SPA said.

Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha) has continued to crackdown on crime in the Kingdom in recent months, including arresting dozens of people for money laundering, corruption, fraud, and bribery.

https://english.alarabiya.net/News/gulf/2021/09/14/Saudi-Arabia-convicts-24-gang-members-in-4-5-bln-money-laundering-case