JEDDAH, 1 January 2003 — A bank employee, charged with embezzling SR1 million, has been arrested in Taif.
According to Al-Madinah newspaper the employee embezzled the sum using the names of 10 female teachers. Under a new law, lady teachers are required to open bank accounts to draw their monthly pay.
The employee copied the teachers’ confidential information such as family card and employment letter and used it to open 10 accounts in their names and issued 10 debit cards without the consent or knowledge of the teachers.
According to Al-Madinah, he drew money from these accounts to buy 10 new cars under the name of each teacher and sold them in the market for a cash price. The embezzlement was exposed when car companies started sending payment invoices to the teachers, the report added.
This is the second embezzlement case involving banks in Taif. A bank employee was arrested a few days earlier for stealing nearly SR1 million. The employee is now in jail pending trial.
