Picture used for illustrative purpose only.

Ehab Atta, Staff Reporter

An Arab businessman, with the help of a Gulf employee, fabricated a seal of a UAE bank and used it to forge a bank guarantee letter for Dhs917,000, which the first defendant used in a real estate construction deal.

According to Dubai Public Prosecution’s investigations, the case dated back to 2014.

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Witnesses testified that a private school wanted to build a gymnasium and issued a tender for which a number of companies made bids. The bid submitted by the defendant’s company was awarded the tender.

The school and the bidder agreed on the detailed conditions, which included the need for the bidder to submit a bank guarantee letter equal to 10 per cent of the value of the deal so that the company would have the right to obtain a first payment of the contract.

As a person in charge of the company, the first defendant submitted a bank guarantee letter with the said amount.

After a while, however, work in the project was suspended and the first defendant disappeared.

The school submitted the bank guarantee letter to the bank to discover that it was fake.