The Saudi Oversight and Anti-Corruption Authority (Nazaha) has initiated criminal cases against a number of Saudi citizens and expatriates for their involvement in crimes of corruption and the legal procedures are underway against them, according to an official source at Nazaha. The first of these cases involves banking fraud amounting to SR493 million. Khaled Ibrahim Al-Jariwi, a Saudi citizen, was arrested in connection with the case. The arrest was made, in cooperation with the Presidency of State Security and the Saudi Central Bank, for his participation along with an employee in a local bank in defrauding banking systems and extracting financing amounting to SR493 million in an illegal manner. Al-Jariwi submitted a financing request that includes deeds for incorrect real estate and fictitious contracts to invest those real estate by government agencies, and the employee accepted the request as bonafide, and sent an email to the competent authorities in the bank that issued the financing after confirming the validity of the submitted documents. After the citizen received the financing amount, the employee transferred an amount of SR100 million outside the Kingdom and purchased real estate and registered it in the names of his relatives with the aim of hiding it. Employees […]