A fine of 15,000 Riyals was imposed, split equally between them.
The Ministry of Commerce publicly named two citizens and a Yemeni resident after a judicial ruling convicted them of committing cover-up crimes in the trade of mobile phone accessories in Riyadh.
The three individuals were exposed after it was proven that the business owner and his agent covered for the resident, allowing him to conduct commercial activity on his own behalf without a foreign investment license, while granting him full control over the business. It was also confirmed that the financial transactions of the covered person exceeded his monthly income and profession as a “sales representative,” and he transferred funds from his illegal activities outside the Kingdom.
Cancellation of the commercial registration, revocation of the license, and liquidation of the business
The Ministry published the judicial ruling issued by the Criminal Court in Riyadh, which included public shaming, a fine of 15,000 Riyals split equally between them, cancellation of the commercial registration, revocation of the license, liquidation of the business, collection of zakat, fees, and taxes, prohibition of business activity, deportation of the covered person from the Kingdom, and a ban on his return to work.
It is worth noting that the Anti-Cover-Up Law stipulates penalties of up to five years in prison and fines of up to five million Riyals, along with the seizure and confiscation of illegal funds after final judicial rulings are issued against those involved.
