The Saudi Public Prosecution announced on Monday the dismantling of a criminal organization consisting of 13 suspects who embezzled 16 million riyals through fraudulent online links. The Financial Fraud Prosecution completed its investigation with the criminal organization, consisting of 13 accused of financial fraud, money laundering via the internet, and violating the Electronic Transactions Law.
The investigation revealed that the suspects deceived several victims by creating fraudulent links and sending them to the victims, illegally accessing their government accounts through these links, issuing legal proxies without the victims’ knowledge, and seizing funds from their bank accounts by transferring them to other accounts or withdrawing and depositing them into a commercial entity's account, in order to conceal the source of the funds and transfer them outside the Kingdom.
The investigation also showed that the criminal organization defrauded the victims for amounts totaling approximately 16 million Saudi riyals, in addition to seizing more than 600,000 Saudi riyals in cash and other cash amounts in different currencies. Funds were also frozen in their accounts and the accounts of the commercial entity.
The Public Prosecution has issued an order to detain them and referred them to the competent court to demand the maximum penalties prescribed by law.
