The two men were executed in front of a crowd of dozens of people in the city of al-Mayadin in Deir-Ezzor province and were then "crucified" with their heads placed at their feet, the Syrian Observatory for Human Rights said.
A sign hung beside the men accused them of "theft and swindling Muslims in the name of the Islamic State", the monitoring group said.
IS ordered the money the men allegedly stole to be returned to its owners, stated the monitor, which relies for its information on a network of activists and doctors inside Syria.
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