Saudi Arabia jails 11 people for money laundering $2.7 bln - state TV

  • 2/13/2022
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RIYADH: Saudi Arabia said Sunday it has jailed a number of individuals on charges of money laundering worth $2.6 billion, according to state-run El-Ekhbariya TV quoting a prosecution statement.  The statement said two Saudi citizens and nine expats are involved in the money laundering. The defendants will be imprisoned for a total of 52 years, it added, noting that fines will be imposed, funds and assets from seized investment portfolios will be confiscated.

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