Dubai: The Saudi Public Prosecution has arrested a criminal gang comprised of seven Saudi citizens, after being accused of planning a complex fraud scheme to steal SR23 million (approximately $6.13 million) from an elderly Saudi individual suffering from health issues.
The members of the illicit group have been charged with financial fraud, forgery, money laundering, and cybercrimes, with a criminal case filed against them, and stiff penalties are sought.
Investigations by the Financial Fraud unit of the Public Prosecution revealed a deceptive operation involving various professionals including businessmen, a licensed female lawyer, a government employee, a telecommunications company worker, and a real estate office employee. These individuals collaborated to defraud the elderly victim, exploiting his vulnerable health condition to misappropriate his funds.
The investigation uncovered that a businessman in the group, impersonating a lawyer, leveraged his prior knowledge of the victim’s real estate assets, financial affairs, and health status to execute the scheme.
The impersonator forged commercial contracts, changed the victim’s secret numbers for electronic government services with assistance from a government agency worker, and acquired a SIM card under the victim’s name. The group also involved a licensed female lawyer who, wielding a forged power of attorney, represented the victim, issuing electronic bonds and filing lawsuits against him based on false asset claims. The entire sham operation was conducted in a fictitious location, overseen by an employee of a real estate office.
The fraudulent activities culminated in the theft of SR23 million. The impersonating businessman was found to have illegally opened and operated a law office without proper licensing, even going as far as falsifying academic qualifications and personal information with the aid of the implicated government employee.
Following the incident, the Saudi Public Prosecution has affirmed its commitment to initiating criminal proceedings and imposing severe penalties on individuals found guilty of fraud, particularly those exploiting digital government processes to carry out their crimes.
