Photographer: OZAN KOSE / AFP via Getty Images
Photographer: OZAN KOSE / AFP via Getty Images
Saudi authorities say they have arrested seven businessmen and 12 bank employees for a scheme that transported 11.6 billion riyals ($ 3.1 billion) of foreign origin abroad.
A statement from the Kingdom Anti-Corruption Authority, published by the official Saudi press agency, said officials were “ganging up” foreign residents, bank employees and businessmen working together to “cash out an unknown source” to deposit and to outside the kingdom. In addition to the businessmen and bank employees, authorities detained a police officer and several other civilians and foreign residents.
The men arrested are accused of illegal financial gain, money laundering and other crimes, according to the statement of bribery, forgery. The statement does not contain their names.
The announcement comes on the same day as the kingdom held its annual global investment summit, the Future Investment Initiative. The inaugural conference in 2017 was followed by a controversial campaign against corruption led by Crown Prince Mohammed bin Salman, who promised to eradicate the end of the country, regardless of its origins. Saudi dissidents have accused him of using corruption allegations to undermine potential opponents and critics, a charge that officials have denied.
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