Saudi Gazette report
RIYADH — A gang of 14 individuals, together with residents and expatriates, who defrauded residents and tricked them into investing in unlicensed digital currencies had been arrested.
The investigations, carried out by the Monetary Fraud wing of the Public Prosecution, led to the arrest of the gang members who had been accused of economic fraud and breach of belief, and subsequently, they had been referred to court docket to finish the authorized procedures.
It was revealed within the investigation that the aforementioned individuals acquired calls from bogus firms exterior the Kingdom, and agreed with them to work remotely in return for a small month-to-month wage. This enabled the faux firms to handle their financial institution accounts, along with passing calls by digital units and applications. This enabled these firms to speak with the victims, and persuade them to take a position, and thus stealing their cash.
It was additionally discovered within the investigation that they had been advertising and marketing unlicensed digital currencies, receiving financial institution transfers from others, transferring them to those platforms, and possessing chip working units and plenty of SIM playing cards.
The Public Prosecution warned that it’s going to not hesitate to take stringent punitive measures in opposition to those that interact in fraudulent means to steal cash from others.