Two men were arrested in Riyadh for indulging in financial fraud, the Saudi Press Agency reported on Monday, quoting Maj. Khaled Al-Kraidis, the media spokesman for the Riyadh police.
The arrest of a Saudi citizen and a Yemeni resident in their 30s and 50s respectively; is part of the efforts of the security forces in combating financial crimes, Maj. Al-Kraidis said.
According to the police spokesman, the duo committed as many as 79 financial crimes in Riyadh; Eastern Province; Makkah; Jazan; and Al-Jauf by luring their victims to invest in the global trading markets.
They also used to transfer the collected money outside the Kingdom; through a bank account of a commercial institution owned by a female citizen.
The spokesman also said that SR500,000 seized from their possession during the arrest; adding that preliminary legal measures were against them before referred them to the Public Prosecution.