An official source for the Saudi public prosecutor’s office announced on Sunday that it would issue a preliminary ruling in the case of money smuggling with a 28-year prison sentence and a fine of 13 million rials.
In detail, prosecutors revealed that the Economic Crime Investigation Department has opened an investigation into the case of a male and female citizen who opened business records and bank accounts and turned them over to a number of expatriates for a monthly fee who are supposed to invest in the commercial entity that returns to them, taking advantage of their bank account and depositing funds that they otherwise received and transferred abroad.
The results of the investigation ended with the issuing of a preliminary ruling by the competent court, which included sentencing the defendants to 28 years’ imprisonment and a fine of 13 million rials, the seizure of funds transferred abroad of more than 685 million rials and their deportation of the accused arrivals from the country after completing their sentences.
The Ministry of International Cooperation is also working on the preparation of a mandate to recover the money after the verdict becomes final.
The source stressed that the issuance of these decisions is a culmination of coordination and integration with the relevant authorities that initiated this case, and in this context it notes that the prosecution is determined to fight organized crimes that harm the economy are supposed to push ahead.