Saudi arrested for scamming 600 people with SR 120 million

Teachings in Islam

“O mankind, eat from whatever is on earth [that is] lawful and good and do not follow the footsteps of Satan. Indeed, he is to you a clear enemy.” (2:168), this verse from Allah is regarding the implication of legal earning and deciding halal ways to make money.

As a Muslim, we all recognize how to the point and specific are the conditions for earning incomes. We have been given a clear margin between haram and halal things and activities that follow some values and policies. Scamming means fraud. It is a confident scheme, cheating act or procedure especially for making instant money.

He defrauded with 600 people

In Jeddah, Al-Watan daily newspaper stated that a man was taken into custody and locked up for scamming 600 people for SR 120 million in their investments. A source revealed that the man arrested belonged to a Gulf country. The man is single and unqualified.

He started a business to fool the common people in Saudi Arabia. He informed his sufferers that he will put in their cash in stock exchange and invest it. The man opened his workplace in Madinah and designed a board representing that the office offers chances to invest in the stock market and will double the client’s money instantly.

He hired a secretary to accept investments

The source said that the man hired a secretary to accept investments from the clients. The secretary was also a part of this fraud. The secretary took signatures and consent from clients over some legal papers. The clients thought that it meant that their privileges will be taken care of.

How did he use to operate?

The man attracted his customers by saying that he will increase their investments to as much as 80 percent. The report suggests that the man composed SR 120 million immediately within four months.

The man gave back some money as profit to a few of his clients to make them believe in him. After some time, the customers were shocked to see the agency shut down and both, man and secretary, disappeared.

The man took the cash and ran away to a Gulf country. The source also said that a minimum of 600 people filed a report with the police against the man’s fraud. The government took help of police to find the man and arrest him.

How was he arrested?

The police found the man with the help of Interpol and imprisoned him. At present, the man is jailed in the country where he was caught. He will be handed over to the Saudi authorities soon to take legal actions against him.

Source: Saudi Gazette