Riyadh, February 13, 2022, SPA -- An official source at the Public Prosecution stated that economic crimes investigations at the Public Prosecution revealed the involvement of a gang of 11 members (two citizens and nine residents) in perpetrating money laundering crimes, violations to the concealment law through using several commercial entities and their branches in receiving and transferring money from unknown sources from their bank accounts with a total amount of more than SAR 10 billion. The source added that Public Prosecution investigation filed a suit against the perpetrators and an initial verdict was issued by the specialized court with imprisonment terms of a total of 52 years and fines of SAR 62.5 million, confiscating money and assets at the investment portfolios that were seized with their total assets of SAR 1,672,862, and deporting the residents from the Kingdom of Saudi Arabia after serving their trial terms and banning the citizens from travel for periods similar to their sentences. The source said that the public prosecution embarked on procedures of objecting the terms issued upon an order to stiffen sentences against the criminals, in realization of the public interest to protect the local economy and deter all those who plan to tamper with the financial security in banking transactions. --SPA 15:21 LOCAL TIME 12:21 GMT 0015 www.spa.gov.sa/w1690903