Saudi Gazette report

RIYADH — The Riyadh police have arrested eight people, who were found to be involved in around 100 fraudulent transactions, swindling money through electronic platforms. The gang comprised three Saudis and five expatriates — three Egyptians and one Indian and Pakistani each.

Maj. Khaled Al-Kraidis, the spokesman of Riyadh police, said that the gang members carried out around 100 frauds through electronic platforms, impersonating government entities and financial agencies operating from outside the Kingdom.

Members of this gang were involved in publishing bogus ads of investments and share transactions and that is in cooperation with suspects operating from outside the Kingdom. It was found that they arranged SIM cards using 1,300 fake names for contact. They also used bank accounts for depositing and transferring money that they managed to get hold of from the victims. The culprits were handed over to the Public Prosecution to complete the legal procedures against them, the spokesman added.