Economic Crimes and Competition

In late 2014, the Saudi Bureau of Investigation and Public Prosecution announced the creation of the Economic Crimes Circuit, which was granted jurisdiction to investigate violations of 40 different statutes. This rendered the breach of any of the designated statutes an economic crime subject to the due course of the criminal justice system.

The presence of the Saudi Companies Act among the designated statutes elevates corporate governance and boards of director’s violations to potential economic crimes. Commercial and corporate fraud, embezzlement, money laundering, corruption, and bribery are examples of violations classified as economic crimes.

The Law Firm of Majed M. Garoub has the expertise and capability to provide companies with customized advice on corporate governance practices such as statutory board of director’s requirements and fiduciary duties, control measures, and disclosure requirements. We also provide legal support to companies and individuals in relation to economic crimes including advice in criminal investigations, legal representation before law enforcement and criminal judicial system bodies, and customized compliance training.