By Alisha Houlihan for AMLi
The Saudi public prosecutor’s office has sentenced eleven citizens and expatriates to a combined 52 years in prison for committing money laundering and anti-concealment.
According to a Public Prosecution source, investigations by the economic crimes unit revealed the group exploited a number of commercial entities and their branches, by receiving and transferring funds of unknown origin from their bank accounts totalling SR$10BN (€2.3BN).