The Dutch ace beat Ferrari’s Charles Leclerc to take pole position for the sprint race
sports2 hours ago
A man who used to work as a manager at a renowned bank in Dubai was sentenced to five years in prison in absentia on Monday.
The Saudi national was charged with breach of trust and embezzlement, which he will pay back as a Dh10 million fine.
His accomplice, a 31-year-old Chinese saleswoman (former employee at the bank), was given a six-month jail term followed by deportation.
The case unfolded between October 2016 and July 2017 and was registered at Al Muraqqabat police station.
The accused had contacted an Emirati businessman and told him that the bank is willing to grant him loan facilities worth Dh10 million and made him sign an account opening form.
However, the bank administration found out later that the defendant abused his post to embezzle the huge loan amount.
He cited his number instead of the customer's on the form application and forged a mortgage contract pertaining to a plot of land owned by the businessman in Abu Dhabi.
The contract stated that if the mortgagee failed to pay up the loan instalment, the bank would have the right to take the necessary legal procedure to recover its money.
Public prosecution records show that the manager faked the businessman's signature on the mortgage contract.
The bank administration came to learn, during an internal probe, the former manager managed to obtain an approval on the loan application after he stamped it with a seal falsely attributed to the bank and a forged confirmation with a false signature of a property department director.
Accordingly, the bank administration approved transactions run by the defendant while in his post as the manager of account of special customers.
Monday's ruling may be appealed.
mary@khaleejtimes.com
The Dutch ace beat Ferrari’s Charles Leclerc to take pole position for the sprint race
sports2 hours ago
Extreme heat has blasted Asia from India to the Philippines in recent weeks, triggering heatstroke deaths, school closures and desperate prayers for cooling rain
asia2 hours ago
Special attention is directed towards controlling mosquitoes in stagnant water, ministry says
uae3 hours ago
That's why we have the CAA (Citizenship Amendment Act), which is to open up doors for people who are in trouble, Subrahmanyam Jaishankar said
asia3 hours ago
King Abdullah II last visited the White House in February when he called for an immediate ceasefire
mena4 hours ago
Fujairah Airport earlier said it would connect the emirate to 18 new destinations
aviation5 hours ago
They were chauffeured in Ferrari and Bentley cars and got to dance to their heart's content in a private yacht party
uae5 hours ago
The country is prone to landslides during the rainy season, with the problem aggravated in some places by deforestation
asia5 hours ago