Saudi Arabia

Saudi: 2 Accused of Financial Fraud Punished With SR5 Million Fine,14 Years in Prison

An official source at the Public Prosecution has announced that the Prosecution for Financial Fraud Crimes has completed its investigation on a Saudi citizen and a resident on charges of financial fraud.

The investigation procedures revealed that the 2 accused had committed a number of financial fraud crimes by agreeing with an organised gang located outside Saudi Arabia to work with them remotely in the field of technology and software.

The crimes in which the defendants involved the gang remotely also included activating SIM cards, passing calls in order to exploit the victims, as well as impersonating employees of government agencies and financial institutions with the aim of accessing the personal and banking data of the victims.

The investigations revealed that these crimes resulted in the theft of funds exceeding SR11 million. The official source confirmed that the two suspects were arrested and referred to the competent court, in addition to providing the evidence for their accusation.

He said that based on the evidence, a verdict was issued convicting them of what was attributed to them, indicating that each of them was punished with imprisonment for a period of 14 years, in addition to a fine of SR5 million.

The items that the defendants used in this crime were also confiscated.


Saudi Gazette

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