CRIMINAL CAPITALI$M HIGHER EDUCATION
Sacked director of Saudi university admits to embezzling over $133 million



The logo of Saudi Arabia’s Oversight and Anti-Corruption Authority. 

Amani Hamad, Al Arabiya English
Published: 29 October ,2022: 

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.

Meanwhile, the authority’s spokesperson, Ahmad al-Hussein, told Al Arabiya 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, adding 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.