Shafaq News / On Wednesday, a Saudi citizen was arrested and referred to the judiciary after defrauding a number of people through a fictional financial investment company and obtaining about five million dollars from them. According to investigations published by the Saudi Press Agency (SPA), the fraudster deceived his victims by exploiting the similarities between his company’s name and that of a legitimate business, leading to fraudulent investment agreements. The competent authorities arrested the Saudi citizen, who seized about 18 million riyals (about five million dollars) from his victims and referred him to the competent court, which sentenced him to prison and a fine. The Saudi Publ
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