The Saudi Ministry of Commerce has named a Saudi citizen and a resident of Bangladesh after a court ruling was issued convicting them of committing the crime of commercial concealment in the activity of recycling scrap iron and non-precious metals.
The details of the case relate to the arrest of the crime of covering up the citizen, the owner of the facility, against the Bangladeshi resident and granting him the authority to trade in recycling and selling iron and copper for his own account without an investment license.
The resident’s responsibility for concluding contracts with sellers and buyers, signing contracts, handing over checks, and then disposing of him in the facility as the owner, and concealment and smuggling of funds resulting from his illegal activity outside the Kingdom, was confirmed, according to the Saudi Press Agency “SPA”.
The Ministry published the ruling issued by the Criminal Court in Dammam, which includes imposing a two-year prison sentence on the resident, fining the convicts an amount of one million and 200 thousand riyals and defaming them at their expense, in addition to the ancillary penalties prescribed by law, namely closing the facility, liquidating the activity, writing off the commercial registry, and preventing the covert From engaging in commercial activity, collecting zakat, fees and taxes, and expelling the concealed resident from the Kingdom and not allowing him to return to it to work.
It is noteworthy that the national program to combat cover-up has adopted modern mechanisms that contribute to restricting the sources of cover-up and eliminating the shadow economy, as 20 government agencies are working to control concealment using artificial intelligence techniques, data and information analysis, and inflict regular penalties of up to five years in prison, and a fine of five million riyals, and seizure and confiscation of illegal funds after the issuance of final judicial rulings against those involved.