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Saudi princess reports losing US$37 million in Bali property scam
Princess Lolowah binti Mohammed bin Abdullah Al-Saud of Saudi Arabia has reported that she was the victim of a property scam.
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The National Police have named two Indonesians as suspects in the $37 million property scam. (Shutterstock/Artur Szczybylo)
P
rincess Lolowah binti Mohammed bin Abdullah Al-Saud of Saudi Arabia reportedly lost billions of rupiah after she fell victim to property scammers.
The head of the National Police’s General Crime Unit, Brig. Gen. Ferdy Sambo, said the princess’ legal team reported two Indonesians to the police in May. The Indonesian residents were identified only as EMC and EAH.
According to Ferdy, Princess Lolowah sent Rp 505.5 billion (US$37.1 million) to the Indonesians from April 27, 2011 to Sept. 16, 2018 to purchase land in Gianyar, Bali, as well as to construct two resorts, namely Vila Kama and Amrita Tedja on Jl. Pura Dalem in Tampaksiring district.
However, by 2018 the construction had not been completed. Moreover, the Ni Made Tjandra Kasih Public Auditors Service Agency revealed that the villa’s property value was less than what the realtors promised her.
Also, the police said that despite the money transfers from Princess Lolowah, the two suspects still owned the properties. The police also found out that another party, a company, had a claim to the land.
The suspects allegedly offered the princess 1,600 square meters of land on J. Pantai Berawa in Badung, Bali.
“The victim sent $500,000 to the suspects. However, when she confirmed the land ownership status, the owner said the land was never up for sale in the first place,” Ferdy said as quoted by tribunnews.com.
“She suffered at least Rp 512 billion in financial losses,” he added.
The suspects are subject to charges under Article 378 of Criminal Code and articles 3 and 4 of Law No. 8/2010 on money laundering eradication and prevention. (dpk)
Editor's note: An earlier version of this article contained an error. The princess' name is Princess Lolowah binti Mohammed bin Abdullah Al-Saud, not Princess Lolowah binti Faisal bin Abdulaziz Al Saud. We apologize for the mistake.
