Al-Nahhabi, a former imam in Onaizah and member of the city’s municipal council, is currently in police custody in Riyadh but will soon be taken to Al-Qassim where his victims originally filed their complaints.
According to police, Al-Nahhabi had changed his appearance and left the Kingdom for a neighboring Arab country around four years ago. He only recently returned thinking he would not be recognized. Police said that Al-Nahhabi came to a bank in Riyadh over a week ago in a luxurious car to cash a check to the value of SR2.2 million. After giving the check and his ID to the cashier, Al-Nahhabi noticed police looking at his car and so he sneaked out of the bank through a side door.
A week later, another man carrying an official authorization letter issued by a notary public in an area close to Riyadh came to a police station asking for Al-Nahhabi’s ID and check book. Al-Nahhabi was arrested after police began monitoring an Arab man who was providing him with liquid cash.
Al-Nahhabi, who owned a financial company called Al-Tashilat, took money from investors through two fake investment projects. Shortly afterward, Al-Nahhabi announced profits in local newspaper and liquidated the two projects. He then disappeared without distributing the profit or reimbursing investors their capital.
Deputy Governor of Al-Qassim Prince Faisal bin Mishaal praised the arrest.
