Saudi Arabia: Confiscating a gang formation involved in a corruption case of 11.5 billion riyals
Wednesday – 14 Jumada II 1442 AH – January 27, 2021 AD
Mazen Al-Kahmous, Chairman of the Control and Anti-Corruption Authority in Saudi Arabia (Asharq Al-Awsat)
Riyadh: «Middle East Online»
The Supervision and Anti-Corruption Authority stated in a statement that it, in cooperation with the Central Bank of Saudi Arabia, started its procedures regarding the information available to it about the involvement of a number of bank employees in receiving bribes from a gang formation consisting of a group of residents and businessmen, in exchange for depositing cash sums of unknown source and transferring them abroad. Kingdom, and by conducting field investigations and analyzing bank accounts of commercial entities and linking them to customs imports.
She added, “It became clear that the anonymous cash deposited in the accounts of these commercial entities amounted to 11 billion and 590 million 209 thousand and 169 riyals, which were transferred outside the Kingdom.” They were in possession of seven businessmen, 12 bank employees, a non-commissioned officer of a district police, five citizens, and two residents, for their involvement in the crimes of bribery, forgery, and exploiting their employment influence in illicit financial gain, commercial cover-up, and money laundering.
The authority indicated that a businessman established fictitious commercial entities in his name and the name of his wife and son, opened bank accounts, and enabled residents to use those accounts in exchange for a monthly amount obtained, in depositing cash sums of unknown source and transferring them outside of Saudi Arabia with the complicity of bank employees in exchange for money and gifts in kind. Noting that the businessman paid an amount of 300,000 riyals to a non-commissioned officer in one of the regions in exchange for suspending his case related to suspicion of his financial dealings seen by the police, and paying 4 million riyals to citizens (mediators) in exchange for their efforts to suspend the same case with the Public Prosecution.
She indicated that 5 businessmen and a bank branch manager had also established commercial entities for the same purpose, pointing out that a businessman brought in an expatriate from the referred to them and enabled him to work freely inside the Kingdom in exchange for a monthly sum.
The authority confirmed that it continues to monitor and control anyone who trespasses on public money, or exploits the position to achieve his personal interest or harm the public interest, and that it continues to implement what the system decrees its right without complacency, appreciating citizens and residents for their cooperation in reporting through the authority’s available channels, including a phone No. (980) for any practices involving financial or administrative corruption in all its forms and levels.