Riyadh - A court has convicted 12 members of a hawala gang who smuggled 60 million riyals abroad, according to the Public Prosecution. The group, which included a Saudi woman, her brother, two other Saudi nationals and eight foreigners, was found to have smuggled 59.3 million riyals abroad. Saudi citizens started counterfeit businesses and opened bank accounts in the name of these companies, handing over the management of these accounts to foreigners. The court also found that the accounts were used by foreigners working in the money laundering sector to deposit and send money abroad. Through this, the gang carried out full-scale money laundering transactions.
The court sentenced all the accused to more than 60 years in prison. All were fined a total of 80 lakh riyals. He was also ordered to confiscate money found in the accounts used by the accused for hawala transactions and more than Rs 24 lakh found in the houses of the accused. The court also ordered the confiscation of mobile phones, laptops and computers used in the crime and the gun found in the house of one of the accused. Public prosecution sources said that legal action was being taken to recover the money sent by the group abroad.
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