iPhone | iPad
Android
Huawei
With an impressive portfolio of projects, Al Bateen offers a vast range of high-quality fasteners across industries
KT APPDOWNLOAD
$2m fraud in Dubai: How two men conned bank customers
Dubai - The convinced them about a bogus investment project.
The court heard how the 35-year-old Emirati man and the 44-year-old Canadian investor, a runaway, managed to convince the two complainants to transfer $2m to the account of a Ras Al Khaimah Free Zone-based company, owned by the Canadian.
The two falsely claimed that the bank had approved the security deposits for an investment project.
The Dubai Court of First Instance sentenced the banker to a three-month jail term and his accomplice, who was standing trial in absentia, to five years in jail and deportation.
The complaint was filed in January at Bur Dubai police station.
According to public prosecution records, the two defendants faked the seal of a bank and forged a letter that they attributed to the same bank. They then sent it to the two complainants by an express post service to make them believe that a $4m deposit was approved by the bank towards securing the investment.
A bank expert told the prosecutor he was appointed by the Dubai Courts to prepare an audit report after the two victims filed a civil lawsuit, demanding the bank to pay $4m.
"We found that the Canadian defendant's company does not have any account at the bank and that the bank did not approve any security deposits. The mail, sent in this regard by an express post branch in Deira, was sent by the Emirati defendant. The latter further claimed to the two victims that he was a bank branch manager and that they approved the security deposits as the company owned by the investor had an account with them, which was not true."
The ruling remains subject to appeal.
mary@khaleejtimes.com
More news from
Israel's military campaign against Hamas has reduced much of the territory of 2.3 million people to a wasteland with most civilians homeless
The event caters to diverse interests, including medicine and emerging career paths
Organised by Ameeraga Tamil Sangam, the event had participants from across the UAE
The esteemed initiative delivered essential grocery food baskets to around 5,000 deserving families across 14 Bangladeshi districts
Judges for the AI awards not only recognise excellence and innovation, but also assess performance and monitor progress in artificial intelligence computing and responses
A plea moved in court stated that no one is permitted to wear the official state institution outfit
Bayer Leverkusen boss Xabi Alonso had been the favourite to succeed Klopp but has now committed himself to the German club after leading them to a first-ever Bundesliga title
