An official source in the Public Prosecution revealed that the Money Prosecution directed the indictment of 4 people; for the crime of financial fraud by establishing a fictitious endowment in one of the Kingdom’s regions.
The source said that the investigation procedures confirmed that the perpetrators, who are citizens and residents of Arab nationality, organized a criminal gang formation to seize the money of others through this alleged fake endowment, through marketing for financial participation in this through media publications in social media, and their collection of clothes and donations. In-kind on the pretext of benefiting those in need, reselling it and appropriating its value.
And he indicated that the investigation procedures revealed that the perpetrators had abused persuading the donors to enable them to obtain their real estate assets and register them in the names of fictitious citizens, with the intention of exploiting them and seizing their resources, according to endowment formulas that would prevent them from doing so. By fraud, and referring them to the competent court to claim the penalties stipulated in the Anti-Financial Fraud and Breach of Trust Law.
The source stressed the penal protection of endowment assets, charitable works, and financial resources for non-profit activities, and that harming them or exploiting the community’s passion and love to do charitable causes to unjustly seize their money is one of the major crimes that require arrest and strict criminal accountability.
