Saudi Gazette report

RIYADH — The Ministry of Commerce has referred the director of a local company to the Public Prosecution after discovering the company's deceptive practices.

The company had been advertising opportunities to become a partner by paying a financial amount and registering the partner's name in another company, raising suspicions of financial fraud.

The ministry reported that the company had advertised through social media influencers, inviting investments in acquiring and subleasing commercial spaces in a market with a promised annual return of 30%. It was found that the company had multiple actual headquarters and some that were established without conducting any commercial activities.

The ministry warned against dealing with suspicious contributions advertised on the internet and social media, promising investment opportunities and quick financial gains. These could expose many individuals to scams and significant financial losses, as the activities often involve illegal operations.