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Oman: Four arrested over financial scam

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The Royal Oman Police (ROP) have arrested four people on charges of forgery and embezzlement of large amount of money from a local bank, local media reported.

In a statement, the ROP said the four suspects were arrested after the bank complained about the incident.

The Omani Police called on banks and financial institutions to be cautious against fraud. Last week, Oman Arab Bank (OAB) reported a criminal complaint in its MSM filing.

“In furtherance to Article 291 and subsequent articles of executive regulations issued by virtue of Capital Market Authority Decision 1/2009 as amended, the Oman Arab Bank states that it has filed a criminal complaint before the Department for Combatting Economic Crimes at Royal Oman Police for suspicion of forgery and embezzlement of approximately RO6 million.”

“The bank announced that investigations by competent authorities are underway in order to undertake all necessary legal proceedings in accordance with applicable rules and regulations. In compliance with the obligation of confidentiality in investigations, the bank keeps its disclosure to the herein and commits to disclose further information as investigations evolve,” the bank said.

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