Saudi University Head Admits to Embezzling $133mn in Corruption Case

Date: 30 October 2022 - 20:34

News ID: ۱۰۸۳۸۸

RIYADH (MEMO) – A former head of a prominent Saudi university has admitted to embezzling hundreds of millions of dollars in funds. According to Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha), the former president of King Abdulaziz University, Abdulrahman Obaid al-Youbi, admitted to having stolen 500 million Saudi riyals (over $133 million) from university funds. Speaking to the news outlet Al Arabiya, Nazaha’s spokesperson Ahmad al-Hussein said that the organization began investigating al-Youbi – who was fired on Thursday – after discovering several financial violations, including exploiting his position to access multiple bank accounts belonging to the university.