June 16, 2024

Recently dismissed university director admits to embezzling over $133M


The recently dismissed Saudi university president has admitted to embezzling over $133 million from the university funds.

The president of Saudi Arabia’s King Abdulaziz University, who was relieved of his duties on Thursday, admitted to embezzling over $133 million (SAR 500 million) from the university funds, the Oversight and Anti-Corruption Authority said.

The authority added that it had seized the funds embezzled by Abdulrahman Obaid al-Youbi and will return the money to the state treasury.

The authority’s spokesperson, Ahmad al-Hussein, said that the authority began investigating al-Youbi after learning he committed several financial violations, including exploiting his authority which gave him access to several of the university’s bank accounts.

After gathering evidence showing al-Youbi had exploited his position for personal gain, the authority interrogated him, al-Hussein said.

He added that he confessed to the crimes he was accused of and of embezzling more than SAR 500 million.

Al-Hussein said that other people were also involved in the case, adding that the authority was still interrogating these suspects and will take all legal measures against them.

About The Author

Leave a Reply

Your email address will not be published. Required fields are marked *