SHAFAQNA (Shia International News Association) – A Saudi businessman was caught red-handed after signing off cheques for 3 million riyals ($800,000), despite having no balance in his bank account.
Dishing out more than he could give, the man was handed a one-year prison sentence and fined 50,000 riyals after he signed off the cheques to several companies, including a plastics factory.
One cheque was written for 2 million riyals, while the remaining two were worth 700,000 riyals and 300,000 riyals.
The companies filed a complaint against the businessman to the Ministry of Commerce, according to Saudi newspaper Okaz, when they attempted to process the cheques.
“The prosecutor ordered the defendant to pay the value of the cheques as well as a fine and to serve a prison sentence,” a court source told the newspaper.— www.shafaqna.com/English
