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FinancialNews


  • 05-09-13

    Bank employee wiles Saudi people of USD8 m

    (MENAFN) The general court in Dammam ordered to arrest a bank employee who defrauded Saudi citizens at about USD8 million in the Eastern Province, according to Saudi Gazette. The court reported that the employee claimed that he will invest people's money in car and real estate trade and convinced them they will receive a 10 percent profit. Um Mohammad, one of the victims, accepted the employee's offer who called her and claimed to be the director of the special services division. He convinced her of the investment after she inherited USD1 million in the bank. Um Mohammad said: "He offered me a number of lucrative options to invest my money and told me that he had immense power and facilities and would give me monthly interest." "He paid me the interest for 18 months before he abruptly stopped," she added.

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