Saudi court jails 24 for money laundering

Saudi Arabia’s Court of Appeals in Riyadh sentenced 24 members of a moneylaundering gang to various jail terms up to 20 years. The defendants, both citizens and expats, were involved in the laundering of 17 billion riyals.

The court slapped the convicts with fines totaling more than 75 million riyals and ordered the confiscation of all funds, estimated at billions of riyals. The gang created an organised framework under the guise of commercial facilities that varied between factories, companies and clinics.

Their roles varied between committing money laundering, collecting and depositing funds and transferring them abroad.