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Bank employee locked up for forging documents to embezzle Dhs1 million

February 25, 2014



A?bank employee has been jailed for five years for forging official documents and using them to embezzle Dhs1 million by applying for a loan on behalf of a customer. Dubai Court of First Instance handed down the sentence to the 33-year-old Egyptian defendant. The court heard how the Egyptian had opened an account for a Syrian investor who wanted to deposit Dhs4 million. But he also made a second account in the Syrian's name and applied for a Dhs1 million loan after forging documents. The Syrian said in official records: "I went in July to deposit a cheque and discovered that I have two accounts. The employee had made the second account and even applied for a Dhs1 million loan then embezzled it for his benefit." The Syrian victim made a complaint and Dubai Police arrested the bank employee. The court ordered the defendant to return the money and fined him the same amount too. He will be deported after serving his jail term.


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Source: Seven Days (United Arab Emirates)


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