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Wed 18 Mar 2015 12:15 PM

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Saudi ‘Phantom Girl’ swindled $163m from bogus real estate deals

Jeddah police reportedly received hundreds of complaints from citizens against the girl, prompting the special investigative

Saudi ‘Phantom Girl’ swindled $163m from bogus real estate deals
(Photo for illustrative purposes only)

Saudi police are investigating claims that a Saudi female dubbed 'the Phantom Girl' managed to amass SAR600 million ($163 million) by conning people into fictitious real estate deals.

Jeddah police reportedly received hundreds of complaints from citizens against the girl, prompting the special investigative committee to launch an inquiry. The case is expected to be referred to public prosecution in the next few days, according to Arab News.

The accused, meanwhile, has been sent to the girls’ welfare home in Makkah until investigations are completed.

In related news, Saudi authorities are investigating five citizens who allegedly deceived 260 investors in Madinah by setting up an online financial investment company and swindling customers out of an estimated SAR400 million, Arab News reported.

Investigation into the “Sawa investments,” has so far revealed random dealings to collect large amounts of money through private appointments, the newspaper said.

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