Al-Marsad newspaper: The Eastern Province Court of Appeals convicted a businessman of fraud and eating people’s money unjustly, and decided to punish him with 12 years in prison.
According to Okaz, The Public Prosecutor had demanded proof of what was attributed to the defendant and sentencing him to a disciplinary punishment that would deter him and deter others, return all funds transferred abroad, which amounted to 452 million riyals, and oblige him to disclose the amount of 409 million shareholder funds.
The Public Prosecutor also demanded that the accused’s money inside and outside the Kingdom be placed under guard and implement what is issued in accordance with the instructions and the Riyadh Arab Agreement for Judicial Cooperation.
The Public Prosecutor charged the businessman with fraud, fraud, falsely collecting people’s money from his victims, following deluding them to invest their money, misusing it, transferring part of it abroad, squandering what he collected and spending, fake profits, brokerage, buying property at exaggerated prices, concealing the rest of it and his inability to pay what he owed. .
