RIYADH — The 9th Criminal Court in Riyadh awarded varying jail terms totaling 28 years for one Saudi citizen and three foreigners who were convicted of money laundering and commercial cover up (tasattur). The penalties against the convicts include fines amounting to SR20 million; confiscation of seized amounts of money exceeding SR2 million; recovery and confiscation of funds transferred outside the Kingdom from the account of the establishment involved in money laundering, amounting to more than SR375 million; confiscation of money deposited in bank accounts exceeding SR714000; two desktop and laptop computers; and a money-counting machine. An official source at the Public Prosecution said that a criminal lawsuit was filed by the Public Prosecutor against the accused in the crimes of money laundering and commercial cover up in the court. The source said that the court also ruled to revoke the commercial registration and license related to the illegal activity and obligate the perpetrators to pay Zakat, taxes, fees and other financial obligations. The foreigners will be deported after serving jail terms and will be barred from reentering the Kingdom. The Public Prosecution found in its investigations that the gang of four was involved in the crime of money laundering and commercial cover-up in the city of Riyadh.
