RIYADH — A teacher, who made exorbitant money by exploiting her colleagues, was convicted of money laundering around SR6 million. A source said the Bureau of Investigation and Public Prosecution reported the convicted teacher gathered around SR6 million from 30 of her colleagues within six months with the pledge of quick returns. She promised them that the money they gave her is for an investment that will bring them profit. "The teacher had told her colleagues that she is investing their money in a foreign-based company. She had promised her colleagues that they would receive profits within a week. She got access to their bank account number and copies of their national IDs," said the source. The source also said she showed her colleagues fake receipts showing a profit of SR1.8 million. "She also asked her colleagues and friends to keep the transaction and the deal a secret. She has confessed under interrogation that she took more than SR3 million from her colleagues and friends," said the source. The source also said the teacher had lied to the bank about where her deposits are going claiming they were going to a charity or to purchase a product. "The bureau has a recording of the teacher pressing one of her colleagues to retract her report to the official authorities. The teacher also threatened her friend of never returning the money to her if she pressed on with her complaint," said the source. The source also said the bureau obtained transaction receipts, deposit receipts and bank statements from the Saudi Monetary Agency. "The teacher also admitted to claiming to send money to an Arab country. She also told her colleagues that she is investing in a company based in a country in the Arabian Gulf. She also admitted that she has burned some of the transaction receipts and deposit receipts to hide what she was actually doing," said the source. The source said the Bureau of Investigation and Public Prosecution demanded the teacher to be imprisoned and fined for her scheme. The bureau also demanded for the teacher's account to be frozen until the trial ends.
