Picture used for illustrative purpose only.
Mohammed Yaseen, Staff Reporter
The Dubai Misdemeanour Court imprisoned an Asian investor and a compatriot in absentia, and fined them jointly the equivalent of $100,000 in local currency, for defrauding an African investor and deceiving him with the possibility of facilitating his obtaining loans from local banks for a commission of Dhs500,000.
In detail, a South African investor submitted a report complaining that he was defrauded by two Asians, as one of them offered him assistance in obtaining loans from local banks to open a branch for his establishment in Dubai, with the guarantee of the property of the second suspect.
On being questioned, the investor said he met the second suspect, who affirmed to him the possibility of facilitating his obtaining loans and offered him documents proving his assistance to a number of investors in establishing real estate companies and expanding their business in Dubai thanks to his acquaintances and friends in senior positions in local banks.
According to the case file, the investor submitted documents and chats between him and the suspects, as well as a bank document proving that he transferred $100,000 to the account of the wife of the first suspect.
In interrogations, the suspect denied knowing the victim and his claim that they had defrauded him.
The court said that the suspects defrauded the victim, seized his money and convicted them of the same.
Defendants faced charges of forming and forging documents to embezzle $1.7 million or Dhs6.2 million from bank accounts belonging to a businesswoman, who was a customer of a UAE bank.
Official records point out that the defendant and his accomplices had intercepted the victims' way in the middle of the night, and brutally beat each of them until they gave up their money.
In the details, the plaintiff reportedly hired a construction company to carry out maintenance work and to add storeys to a commercial-residential building and its annexe.
This was on Friday evening, when the operations room was alerted about a brawl among members of one family in a house located in an area of the emirate. A police force immediately dispatched to the location of the house to deal with the incident.
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