5 men jailed for defrauding bank of Dh15.6m

5 men jailed for defrauding bank of Dh15.6m

Defendants forged 4 cheques that were issued in names of trading companies and withdrew money

Dubai: Five men were handed different jail terms for defrauding a bank and forging four cheques worth Dh15.6 million that were supposed to be withdrawn from the armed forces’ account.

Two Tunisian men, a 33-year-old jobless man and a 37-year-old sales manager, and five businessmen were accused of conspiring against a local bank and forging the four cheques that were issued to four general trading companies in January.

The amounts written on the four forged cheques were Dh3.8 million, Dh4.7 million, Dh3.4 million and Dh3.7 million, records stated.

The five businessmen, who were believed to have conspired with the two Tunisians against the local bank, include two Bangladeshis, a German, a Tunisian and an Egyptian.

On Wednesday, the Dubai Court of First Instance sentenced the 33-year-old and 37-year-old defendants to three years in jail each for issuing the forged cheques in the name of the general trading companies that were represented by three of the five businessmen.

The businessmen deposited the forged cheques in ATM machines and collected their values (Dh15.6 million).

One of the Bangladeshis, the German and the Egyptian defendants were jailed for two years each for abetment by conspiring with the Tunisian duo by agreeing to get the forged cheques issued in their companies’ names against a commission of 5-10 per cent of the cheque’s value.

Meanwhile, the other Bangladeshi defendant and a third Tunisian were referred to the Dubai Misdemeanours Court to be tried for failing to report the crime to the authorities.

The defendants pleaded not guilty in court.

The Egyptian defendant contended in court that he did not know that the cheques were forged.

“I agreed with them to do business and was supposed to get a commission of Dh700,000 that was supposed to be transferred to my bank account. I was surprised when I found that Dh3.7 million had been deposited into my account. When I checked with them, I was told that the main partner … had mistakenly transferred Dh3.7 million,” he argued.

Presiding judge Fahd Al Shamsi said the five sentenced defendants will be deported following the completion of their jail terms.

One of the bank’s managers testified that the first cheque was issued from the armed forces’ account in January.

“The cheque for Dh3.8 million was deposited in an ATM to be withdrawn, It was issued in the name of a trading company. Some withdrawals were made from the account and, by the time the other cheques had been deposited, we discovered that the cheques had all been forged,” he told prosecutors.

A police lieutenant at Dubai Police’s Cybercrime Section said primary investigation led to the arrest of one of the Bangladeshi defendants once the first forged cheque was discovered.

The rest of the defendants were arrested one at a time, he added.

Wednesday’s ruling remains subject to appeal within 15 days.

Source : http://gulfnews.com/news/uae/courts/5-men-jailed-for-defrauding-bank-of-dh15-6m-1.2132669

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