Saudi: Fraud worth SR 11.5 billion uncovered

A massive corruption scheme worth 11.5 billion Riyals involving bank officials and businessmen has been uncovered by Saudi anti-graft authorities.

Bank employees have receiving bribes from an organised gang consisting of expatriate residents, citizens and businessmen. The said gang would deposit cash sums from unknown sources and have them transferred outside the Kingdom.

Five expatriate residents, seven businessmen, 12 bank employees, a non-commissioned officer, and a bank branch manager were involved in the corruption scandal.

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