Saudi Arabia said to investigate $4bn of money laundering cases
21 Nov 2016

Seven cases of money laundering, reportedly worth SR16 billion ($4 billion), are under investigation in Saudi Arabia, according to local media.

Thirty suspects of various nationalities – including Saudis – have been arrested and 15 of them released after questioning, Saudi Gazette reported.

The Penal Court is to examine one case involving an alleged SR2 billion ($533 million) of laundered funds next month, and another involving SR8 billion ($2.1 billion) and nine suspects including two local bank employees.

In the coming weeks the court will also examine another case involving suspected money laundering of SR2 billion ($533 million) and another involving SR7 billion ($1.86 billion).

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