Stock Groups

Saudi Arabia jails 11 people for laundering $2.7 billion

by Mike Robinson

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(Reuters) – Saudi Arabia has sentenced eleven people, including nine foreigners, to prison on charges related to laundering ten billion riyals ($2.67 trillion), according state TV. The report cited a statement from prosecutors.

Report added that the court ordered penalties and confiscation of all funds and assets seized from investment portfolios.

($1 = 3.7516 riyals)

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