Fake company owner defrauds American woman of $250,000 in Dubai - GulfToday

Fake company owner defrauds American woman of $250,000 in Dubai

  • 15 May 2022

Picture used for illustrative purpose only.

Mohammed Yaseen, Staff Reporter

An Asian owner of a fake company for manufacturing and trading in ready-made garments defrauded an American woman and took $250,000 from her after cheating her with fake contracts and documents proving that he owned a company in his home country.

The Dubai Misdemeanours and Violations Court convicted the suspect and sentenced him to 6 months in jail to be followed by deportation after serving his sentence and fined him $250,000 or its equivalent in the UAE’s currency. The appellate court upheld the verdict.

The details of the case date back to October 2021, when an American woman filed a report claiming that she had been defrauded, and $250,000 was stolen from her.

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According to her testimony in the interrogations, she testified that she had received an offer of partnership in a clothing manufacturing and trading company, where the suspect claimed that he owned a company in his home country for manufacturing ready-made garments and exporting them to Dubai and from there to a European country.

She added that he briefed her on fake documents, contracts, names of investors and a website to reinforce his claimed, stressing that he earned 12% annually from his trade and that she would receive 5% as net profits if she accepted to be his partner.

She reportedly agreed with him on the details of the partnership and signed the needed contracts and transferred $250,000 from her account in her home country. Later, the suspect switched off his phones after receiving the money.

According to the case papers, investigators arrested the suspect who confessed in interrogations to his crime.

 

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