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After committing fraud, a Saudi woman and her husband were sentenced to 111 years in jail and fined 28 million riyals. After committing fraud, a Saudi woman and her husband were sentenced to 111 years in jail and fined 28 million riyals.
The Public Prosecution of Saudi Arabia reported that a Saudi court found 23 people and businesses guilty of financial fraud and sentenced them to 111 years in jail and fines totaling SR28.6 million, including a citizen and her expatriate husband.
Additionally, the court mandated that the expatriate be deported after serving his jail sentence and paying the fines, as well as the confiscation of proceeds from the crime and similar value of money engaged in it.
By connecting with them and convincing them to invest in prepaid cards, virtual currencies, gold, oil, and international unlawful assets, the crooks were able to target a large contingent of citizens and residents.
Once they had the victims’ bank account numbers, they would use those numbers to withdraw the entire balance, transfer it to accounts in the names of fictitious individuals and businesses, and then move the money outside of the Kingdom.
The results of the investigation revealed that the expatriate (the citizen’s husband) had coerced both male and female citizens into creating fictitious technical commercial entities in their names, opening bank accounts in their names, managing those accounts on his behalf, and using those accounts to receive money from the victims and send it outside the Kingdom.
Investigation techniques also showed that the offenders rotated some money by transferring it between the victims’ accounts when they delegated them to transfer money to more victims.
They had tricked them into thinking that this money came from their trading earnings and had enticed them with the promise of being rich soon by doubling the value of the funds they transferred to the criminals.
According to a representative from the Public Prosecution, the offenders built websites to show the victims fictitious investment portfolios and tricked them with the rewards from their trading in an artificial and unreal programmatic fashion.
The criminals were arrested and charged with financial fraud, money laundering, counterfeiting, and breaking the laws aimed at preventing information crimes and countering concealment.
What's your reaction about this news🥰𝙒𝙚 𝙝𝙤𝙥𝙚 𝙩𝙝𝙖𝙩 𝙮𝙤𝙪 𝙡𝙞𝙠𝙚𝙙 𝙩𝙝𝙞𝙨 𝘼𝙧𝙩𝙞𝙘𝙡𝙚. 𝙋𝙡𝙚𝙖𝙨𝙚 𝙨𝙝𝙖𝙧𝙚 𝙞𝙩 𝙬𝙞𝙩𝙝 𝙮𝙤𝙪𝙧 𝙁𝙧𝙞𝙚𝙣𝙙𝙨 𝙖𝙣𝙙 𝙨𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚 𝙩𝙤 𝙤𝙪𝙧 𝙬𝙚𝙗𝙨𝙞𝙩𝙚 𝙗𝙮 𝙘𝙡𝙞𝙘𝙠𝙞𝙣𝙜 𝙤𝙣 𝙩𝙝𝙚 𝘽𝙚𝙡𝙡 𝙄𝙘𝙤𝙣 (𝙇𝙚𝙛𝙩 𝘽𝙤𝙩𝙩𝙤𝙢 𝙤𝙛 𝙩𝙝𝙞𝙨 𝙋𝙖𝙜𝙚) 𝙩𝙤 𝙧𝙚𝙘𝙚𝙞𝙫𝙚 𝙣𝙤𝙩𝙞𝙛𝙞𝙘𝙖𝙩𝙞𝙤𝙣𝙨 𝙛𝙤𝙧 𝙚𝙫𝙚𝙧𝙮 𝙏𝙧𝙚𝙣𝙙𝙞𝙣𝙜 𝙖𝙧𝙩𝙞𝙘𝙡𝙚.🥰
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