A young Saudi woman has duped unsuspecting investors of SR500 million ($133 million) and fled the kingdom accompanied by her husband, a report said.

Jeddah police have received complaints from 25 citizens claiming that they were victims of fraudulent investment schemes promoted by the woman. Some of them received uncovered cheques or cheques which carried different signatures for their investments, the Arab News report said.

They claimed that the woman held two business licenses, one for real state and another for importing electrical appliance. Some 1,190 investors contributed to the woman’s fake investments through her office in Jeddah, the report said.

The woman collected funds ranging between SR30,000 and SR40,000 and expanded her activities, according to one investor, who spoke on the condition of anonymity. Another investor said he became acquainted with woman through a female bank employee who convinced him to pay SR6 million as his share in one of her projects, the report said.