Khaleej Times, Jul 25, 2022 | Zul Hijjah 26, 1443
Saudi woman, foreign husband get 12-year jail; SR50 million fine in money laundering case
A Saudi woman and her husband of Arab nationality were sentenced to a total of 12 years in prison and fines amounting to SR50 million after their conviction in money laundering offenses involving more than SR63 million.
The special court dealing with economic offenses also ordered the confiscation of a similar value of the funds transferred abroad, amounting to SR63,045,550 as well as the funds seized in the accounts of the accused and the commercial entity amounting to SR103322.23, in addition to travel ban for the woman citizen for a period equal to her prison term; deportation of foreign defendants after serving jail term; and permanent ban for the businesses of the commercial entity.
According to an official source at the Public Prosecution, the Economic Crimes Prosecution’s investigations had proved that the woman citizen obtained a commercial registration for a commercial entity and opened a bank account and made these available to her husband of Arab nationality, who in turn agreed with one of his compatriots to use the commercial entity’s account to engage in money laundering offenses, in return for a monthly salary of SR10000.
The source noted that the investigation procedures showed that the volume of financial flows in the account of the commercial entity exceeded SR63 million and that necessitated the Public Prosecution to make a request for collecting the customs data. The data revealed that there have been no imports taken place and there were no real and actual commercial activities carried out by the commercial entity.
The source confirmed that the investigations were completed and the accused were referred to the competent court, which pronounced the preliminary verdict. The source indicated that the Public Prosecution had appealed the verdict, calling for a tougher penalty against the perpetrators of the crime.