Saudi Gazette report

RIYADH — A Saudi citizen, who was accused of financial fraud crimes, was arrested in Riyadh, according to the Public Prosecution.

The Financial Fraud wing under the Public Prosecution has begun its investigations into the charges of financial fraud crimes, leveled against the citizen. He was accused of impersonating others, and taking hold of a number of properties illegally in the city of Riyadh, in addition to defrauding sums of money amounting to SR69 million from one of the victims, after deceiving him with promises of making investments and commercial partnerships.

The arrested citizen was referred to the competent court, and a general criminal lawsuit was filed against him. The Public Prosecution pleaded the court to pronounce stringent penalties against him.

The Public Prosecution reaffirmed its keenness on the judicial protection of funds and real estate assets. It warned that it will proceed with filing criminal cases against anyone who dares to commit financial fraud against others and get hold of their money in an illegal way.