Five arrested for swindling SR17 million

Saudi Gazette report

RIYADH — Five persons, including Saudis and foreigners, were arrested in connection with their involvement in fraudulent means to steal SR17 million from the accounts of victims.

Maj. Khaled Al-Koraidis, assistant spokesman of Riyadh region police, said that police arrested the Saudi and Syrian culprits, who are in their 20s and 30s, for their involvement in stealing money from the accounts of their victims through fraudulent means.

Posing as officials from lawyer’s offices, they claimed that they could retrieve money that ran into problems after depositing in FOREX companies. The swindlers lured their victims through advertisements posted on electronic application links on social media sites.

They stole a total of more than SR17 million from the bank accounts of several people after getting access to their secret banking data.

They then transferred the money through the bank accounts of commercial entities owned by Saudis to the account of the Syrian beneficiary, who is residing outside the Kingdom.

The security authorities are completing the legal procedures prior to handing over the accused to the Public Prosecution, the spokesman added.