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The Oversight and Anti-Corruption Authority initiates a criminal case

1/27/2021


 

An official source in the Oversight and Anti-Corruption Authority stated that the authority, with the cooperation of the Saudi Central Bank, has started its procedures regarding the information available about the involvement of bank employees in receiving bribes from an organized gang which consist of a group of residents and businessmen, in exchange of depositing cash sums of unknown sources then transferring them outside the Kingdom, and by conducting field investigations and analyzing commercial entities' bank accounts and linking them to customs imports, it became evident that these cash sums deposited in the accounts of those entities amounted to (11,590,209,169) eleven billion five hundred ninety million two hundred nine thousand one hundred and sixty nine riyals was transferred outside the Kingdom, and subsequently, (5) residents were arrested while heading to a bank to deposit an amount of (9,784,268) nine million seven hundred eighty four thousand two hundred sixty eight riyals in cash.

In addition, (7) businessmen, (12) bank employees, a non-commissioned officer in one of the regions Police Department, (5) citizens, and (2) residents were arrested for their involvement in bribery, forgery, and exploiting the power of their position for illicit financial gain, commercial concealment, and money laundering; the case detailed as follows:

Firstly: a businessman established a number of fake commercial entities under his name and the name of his wife and son, opens bank accounts, and enables residents to use those accounts in exchange for a monthly payment that the businessman gets. The accounts are used by residents to deposit cash sums of unknown source and transfer them abroad with the collusion of bank employees in exchange for receiving money and gifts; the businessman paid an amount of (300,000) three hundred thousand riyals to a non-commissioned officer in a police department in exchange for stalling his case that involves suspicious financial dealings, and payed (4,000,000) four million riyals for citizens (mediators) in exchange for their efforts to stall the same case in the Public Prosecution.

Secondly: (5) businessmen established a number of fake commercial entities, opened bank accounts, and enabled residents to use those accounts in exchange for a monthly payment that they obtain. The accounts are used by residents to deposit cash sums of unknown source and transfer them abroad with the collusion of bank employees in exchange for receiving money and gifts.

Thirdly: the “manager of a bank branch" established a number of fake commercial entities, opened bank accounts, and enabled residents to use those accounts in exchange for a monthly payment that he gets. The accounts are used by residents to deposit cash sums of unknown source and transfer them abroad with the collusion of bank employees in exchange for receiving money and gifts.

Fourthly: a businessman brought in an expatriate from the forementioned and enabled him to work in business inside the Kingdom in exchange for a monthly payment.

The Authority affirms on the continuation to pursue anyone who exploits the public office to achieve personal gain or harm the public interest in any way possible, and that it will apply what the law rules against the violators with zero tolerance, and it would like also to thank the cooperation of citizens and residents in reporting through its available channels, including the toll free number (980) for any forms or manifestations of practices involving financial or administrative corruption.

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