The businessman gave the amount to an Egyptian worker of the company and asked him to take the amount to a money changer to convert the amount to Saudi riyals.

While the Egyptian was returning in his car from the money changer, he was told by an onlooker that one of the rear tires of his car had been damaged.

When he stepped out of the vehicle and inspected the tire, the onlooker ran off with the money. He quickly informed the police who mounted a manhunt for the criminal.

Eventually three suspects were arrested: the man who warned the Egyptian about the damaged tire and two of his accomplices.

All the three suspects were positively identified by the Egyptian courier.

The businessman said he trusted his Egyptian driver and did not suspect him of colluding in the act.

Maj. Abdul Mohsen Al-Maiman, spokesman for Makkah police, said the suspects are being held at the Qarara police station in order to complete the investigation before handing them over to prosecutors.