- JEDDAH: Saudi police captured a stock market fraudster with the help of the International Criminal Police Organization (Interpol) recently.
- The Saudi businessman has been wanted in connection with a number of cases when he fled the country after reportedly cheating investors of millions of riyals.
The real estate shark allegedly lured people to invest in nonexistent projects, mainly in the apartment development market.
His shady activities spread even to neighboring countries such as the United Arab Emirates and Egypt with the help of accomplices in those countries.
The Saudi police sought the help of Interpol to catch him after he disappeared from the Kingdom following complaints from many of his victims.
According to a police source, the man will be held in a Jeddah prison before he appears in court.
Various courts had issued verdicts against him in about 50 cases in his absence. Allegations against him also include issuing bad checks. The Jeddah General Court has dozens of cases pending against him.
