Ahmed Al-Hussein, undersecretary and official spokesman of the Oversight and Anti-Corruption Authority (Nazaha), said an amount exceeding SR500 million had been embezzled from the university’s funds. Dr. Abdurrahman Al-Youbi, the university’s president, was sacked from his position on Thursday by royal order over his alleged involvement in the case.

Al-Hussein told Al-Arabiya channel on Friday that necessary precautionary measures have been taken with regard to the funds that the university president was implicated in embezzling, in order to prevent their disposal.

He said, "Legal measures are underway to restore the money to the state treasury."

Al-Hussein stressed the importance of protecting public money from infringement. He stressed that anyone who steals public money will be subject to accountability and punishment.

On Thursday, Custodian of the Two Holy Mosques King Salman sacked Al-Youbi and referred him to investigation authorities, the Saudi Press Agency (SPA) reported citing the royal order.

The royal decree stated that the decision was based on a report submitted by Nazaha on Al-Youbi’s role in the embezzlement.

"Al-Youbi committed crimes that include exploiting his official powers for personal interest, embezzlement of university funds, money laundering and forgery," the royal order read.