JEDDAH: The Criminal Court in Jeddah sentenced a Bangladeshi to eight months in prison, a fine of SR3,000 and 50 lashes to be administered at four different times for money laundering.
The man had transferred nearly SR4 million from his bank account before he was arrested and investigated by the department of financial investigation, which discovered he was involved in transferring the funds for a Saudi in exchange for SR10 and a mobile phone card each time.
Sources reveal the expat was charged with illegally transferring funds without knowing their original source, and in an illegal manner between the period of 13/4/2014 and 13/4/2015, amounting to SAR3,943,378.
The funds were transferred to several companies and individuals in various countries, including the GCC, based on the request of the young Saudi who had previously been his boss.
The Saudi man in his thirties was arrested while returning from a trip abroad and charged with laundering SR2 million through ownership of companies.
The man had transferred nearly SR4 million from his bank account before he was arrested and investigated by the department of financial investigation, which discovered he was involved in transferring the funds for a Saudi in exchange for SR10 and a mobile phone card each time.
Sources reveal the expat was charged with illegally transferring funds without knowing their original source, and in an illegal manner between the period of 13/4/2014 and 13/4/2015, amounting to SAR3,943,378.
The funds were transferred to several companies and individuals in various countries, including the GCC, based on the request of the young Saudi who had previously been his boss.
The Saudi man in his thirties was arrested while returning from a trip abroad and charged with laundering SR2 million through ownership of companies.
