Saturday, October 31, 2020

Saudi confiscates $4.3 billion from money laundering activities, jails 28 people

-

A total of 28 people, who were accused of money laundering, were sentenced to varying jail terms and awarded fines amounting to a total of nearly SR60 million in addition to confiscation from them of more than SR16 billion.

An official source at the Public Prosecution stated that preliminary rulings were issued in cases framed against 28 accused who were awarded jail terms totaling 194 years and six months and fines totaling SR59,850,000 and confiscation of SR16,616,981,340.

A travel ban will be slapped on the convicts for an equal period of their imprisonment and deportation of non-Saudis after serving their jail terms and payment of fines.

The concerned circuit at the Public Prosecution conducted the investigations into the charges against 28 persons accused of money laundering crimes.
It was revealed in the investigations that these persons were involved in illegal practices with concealment and camouflage of large amounts of money that are punishable under the law to combat money laundering.
- Advertisement -
- Advertisement -
- Advertisement -

MUST READ

Actress Lori Loughlin begins 2-month prison sentence for role in college admissions scam

Actress Lori Loughlin reported to a federal prison in Northern California on Friday to start a two-month sentence for her role in a massive...

FirstEnergy fires CEO, other executives over Ohio bribery scandal

FirstEnergy Corp. has fired its CEO amid multiple federal investigations related to an Ohio nuclear bailout law passed year. The Akron-based utility company announced in a...

Ukraine’s court strips critical power from anti-corruption agency

Ukraine's Constitutional Court has stripped the country’s anti-corruption agency of some of its critical powers. The high court’s ruling published on October 28 declared it...

Former South Korean President Lee Myung-bak sent back to prison for 17 years in corruption case

Former South Korean president Lee Myung-bak was ordered back to prison on Thursday (Oct 29) as the country's Supreme Court upheld a 17-year jail...

Nigerian court declines to issue international arrest warrant for fugitive ex-Petroleum Minister in corruption case

The Abuja Division of the Federal High Court, on Wednesday, refused an application by the Economic and Financial Crimes Commission, EFCC, for an arrest...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Former South Korean President Lee Myung-bak sent back to prison for 17 years in corruption case

Former South Korean president Lee Myung-bak was ordered back to prison on Thursday (Oct 29) as the country's Supreme Court upheld a 17-year jail...

Actress Felicity Huffman complete full sentence for role in college admissions scam

Felicity Huffman has completed her full sentence for her involvement in the college admissions scandal. As of Sunday, she has finished her sentence, which included jail...

Indonesia sentenced stockbroker to life over fraudulent investment scheme

Renowned stockbroker Benny Tjokrosaputro was sentenced to life by the Jakarta Anticorruption Court on Monday evening for his role in a major graft scandal...

Former Harris County deputy constable pleads guilty to transporting drug money and heroin

A former Harris County deputy constable and her husband pleaded guilty Wednesday to charges of conspiracy to possess with intent to distribute heroin, according...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks