Saudi citizen convicted of issuing fraudulent checks estimated at $3.2m

A Saudi citizen was convicted of issuing 22 fraudulent checks worth approximately SR 12 million ($3.2 million) after an investigation was initiated by the Public Prosecution’s financial fraud unit.

The Saudi Public Prosecution announced on Tuesday that the citizen was convicted of violating the financial fraud and breach of trust law, as well as the commercial papers system.

The checks had no compensation and were issued in a way that prevented their disbursement, thus defrauding the victims by misleading them.

After arresting the accused, referring him to the competent court, and presenting evidence of his accusation, a ruling was issued against him.

He was sentenced to a five-year imprisonment and a fine of SR 300,000 and must return the amounts to their owners.

Lawyer Naif Al-Malik said: “Article Two of the law on combatting financial fraud and breach of trust stipulates that the accused shall be punished by imprisonment for a period not exceeding five years, or a fine not exceeding SR 3 million, or both penalties.”

The law includes penalties for those who unlawfully seize the property (money in this context) of others and that which is entrusted to them.

This is in addition to penalties for those who incite others to commit the crimes stipulated in this law.

The Public Prosecution has strongly urged the public to beware of all types of financial fraud.

It stressed that anyone who commits such acts will face severe criminal penalties.