Gov. of Riyadh Prince Faisal bin Bandar. (SPA)

Three Arab expatriates and their Saudi sponsor were arrested for purchasing goods from traders with forged checks.

The arrests were made by Riyadh police early this week in line with directives from Gov. of Riyadh Prince Faisal bin Bandar, who is keen on eliminating frauds and crimes in the region. The gang of three purchased goods from local businessmen using checks without funds from their banks. According to police, the purchased goods were resold to the local market at prices much lower than current prices.

The trio had worked under a Saudi sponsor who had aided and abetted them in their crime.

On arrest of the Saudi sponsor, police found that the suspect was wanted for several commercial frauds in the past.

On investigation, police discovered a collection of rubber stamps, forged letterheads for fake companies and more than five types of forged checkbooks from different banks.

Police found that the loot from the robbery was equally shared by the three expatriates and the Saudi sponsor. The police said that they are continuing their investigation find if others were involved in the fraud.

On completion of inquiry, the police will produce the suspects before court for necessary punishment.

The authorities warned businessmen to be careful of such fraudulent traders who will use any strategy to cheat both businessmen and customers.

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