Saudi Arabia: Five arrested in fraud worth 17 million riyals

Dubai: Saudi Arabia’s security authorities have arrested five men for their involvement in commercial scams, through which they swindled more than 17 million riyals from their victims.

The suspects, three Saudis and two expat Syrians, were arrested after an intensive surveillance operation.

Major Khalid Al Kreidis, assistant media spokesman for Riyadh Police, said the suspects posed as representatives of law firms, claiming to be able to recover distressed debt funds from Forex trading companies.

“They advertised their services through social media platforms, asking their victims about the confidential data of their bank accounts. They deceived their victims and managed to swindle more than 17 million riyals from them and then transferred them outside the Kingdom to a Syrian beneficiary living abroad,” Maj. Al Kreidis said.

They were remanded in police custody to face legal action.