Posted by : Aahil Shaik Sunday, July 9, 2023

Imprisonment of 8 years and other penalties for an Expat and a Citizen - Saudi Public Prosecution

An official source at the Public Prosecution said that a Saudi citizen and an Arab expatriate were charged on allegations of money laundering and concealment as a result of the Economic Crimes Prosecution's investigations, according a report in local media. Trending : Iqama issuance and renewal fee for the Year 2023 in Saudi Arabia

The investigation processes revealed that the citizen allowed the expatriate to engage in commercial activity and work for his own account in the activity of providing medical supplies in exchange for a monthly salary, and allowed him to purchase and sell medicines from companies, enter into contracts with governments, bargain with owners of property, deposit and transfer money to businesses.

- The inquiry revealed that the expat had deposited more than 7 million riyals and transferred them outside the Kingdom of Saudi Arabia. Additionally, by inspecting commercial entities, 6 million riyals in proceeds from a money-laundering crime, as well as two cheque books and 9 signed blank checks, 5 ATM cards and t seals of the commercial entity were discovered. Most Viewed : A Saudi man wakes up from Coma after 4 years, he wondered there was something like Corona pandemic

- The Public Prosecution brought the two accused before the appropriate court, which delivered a verdict convicting them of the charges brought against them, sentencing them to 4 years in prison each, a total fine of 6 million riyals, seizure of property worth a comparable amount for the funds used to commit the crime and its proceeds, and deportation of the expatriate from the Kingdom after serving his sentence.

- The source stressed that the Public Prosecution is still working to safeguard the country's economy and financial resources and that it won't hesitate to call for harsher punishments for anyone who tempt themselves to endanger the Kingdom's economic security. See Also : Benefits of vacations on an individual and on families

Imprisonment of 8 years and other penalties for an Expat and a Citizen -

Powered by Blogger.