The Federal Supreme Court of the United Arab Emirates has upheld the conviction of two defendants for bank fraud and for stealing AED 36 million.
They will be fined a total of AED 300,000, and imprisoned for two years, according to Al Bayan.
The Public Prosecution described them as thieves who stole cash owned by a bank through fraud and deception.
Case papers indicated that the defendants went to the bank and said they did not have residency in the Emirates, but they were waiting for their required documents to be completed.
They then pressured employees of the bank to open an account for them, claiming that they were in the process of obtaining their residency, and that they already had a local patron.
After opening an account, they soon returned to the bank and opened another account on the behalf of a company in Ajman.
One of the culprits then obtained a commercial license similar to that of the real company, and submitted it to the bank, asked to transfer and close the account, and cash in a total amount of 36.572.317.88 dirhams.
The Court of Appeals rejected the offenders attempt to appeal their sentence.