Saudi Citizens and Expatriate Arrested for SR200 Million Commercial Concealment and Money Laundering
Three Saudis and an expatriate were arrested for commercial concealment and money laundering worth SR200 million.
The Public Prosecution handed them over to the court and demanded the maximum penalty.
The investigation by the Economic Crimes wing revealed that a female citizen started a debt collection company, which her husband then managed, allowing the expatriate to control the bank accounts with over SR200 million in cash deposits.
The expatriate made external transfers without importing goods.
The text describes the discovery of illegally obtained funds through fraudulent financial transactions.
The funds, which included hundreds of vouchers, were presented as purchases from an exporting country but were found to be based on fake receipt and delivery documents.
The Public Prosecution emphasized the illegality of such behavior and warned of strict criminal consequences for anyone harming the national economy through such violations.