Businessman abetted banker in forging documents to embezzle Dh30.5m from wife’s bank account
A banker and a businessman have been jailed for five years in jail each for forging documents to embezzle Dh30.5 million from the account of the businessman’s wife.
The Emirati housewife in August 2009 visited the 37-year-old Emirati banker at a local bank’s branch in a mall in Al Rashidiya to open a bank account for her and her children.
She deposited Dh30.5 million into her account and was later told that she would earn interest annually.
When she didn’t receive any email notification that her savings’ bank account had been activated, she called the bank and asked them to communicate with her personally.
The 37-year-old banker then emailed her a notification that her bank account had been opened and activated.
When the first interest was due, she didn’t receive any notification, but received an email from the banker asking her to continue investing her money with the bank.
Later, the banker and another British bank employee constantly called her up and asked her to come and sign some documents, but she did not go.
The Emirati wife then contacted the banker and asked him to transfer her money to another bank account. When he delayed in doing so, she complained to the bank’s legal department. When the issue was still not resolved, she complained to the police.
On Tuesday, the Dubai Court of First Instance convicted the Emirati banker of abusing his managerial job and embezzling the housewife’s Dh30.5 million using forged money transfer documents. The businessman was found guilty of aiding and abetting the banker.
According to the primary ruling, presiding judge Mohammad Jamal referred the wife’s civil lawsuit to the Dubai Civil Court.
“The forged papers and documents will be confiscated,” said presiding judge Jamal.
The Emirati defendants and a third person, who remains at large, forged the woman’s signature on money transfer and banking facility forms so they could be able to embezzle her money, said records.
The banker and the businessman pleaded not guilty when they showed up in court.
The defendants, who are in custody, have already appealed their primary ruling.