Police are pursuing an Egyptian accountant accused of embezzling nearly SR11 million from a large Jeddah-based company. The suspect is one of two employees accused of embezzlement by the owner of the company who reported to Al-Kandara police that the two disappeared after financial auditing showed that the amount of SR10.9 million had been transferred to the bank account of one of them. The police later arrested one of the suspects. Spokesman for Jeddah Police Colonel Misfer Al-Juaid said a high-level team has been formed to pursue the suspect noting that the arrested man's interrogation revealed significant information on how the amount was stolen. He called on businessmen and investors to have accounts constantly audited to avoid embezzlements.
