Sign in Register
Posted On: 27 August 2009 11:14 am
Updated On: 12 November 2020 02:10 pm

QR200m swindler nabbed

Paper Boy
Paper Boy
Discuss here!
Start a discussion
The head of an investment company in Qatar accused of embezzling over QR200m was nabbed at the Doha International Airport after he flew into the country from another GCC state. The company’s owner is accused of cheating tens of investors of millions of riyals. He lured them to invest in real estate and stock market investment funds with promised returns of close to 200 percent. After his capture, the man was taken to the Capital Police Station, where officials started an investigation into the series of allegations made against him concerning his issuance of cheques from empty bank accounts and the stealing of millions of riyals from investors. The head of the company was later released after he agreed to bail himself out. Some of the victims reported that the company had contacted them and asked them to visit its office within the next few days to collect their money.