Dubai’s police have mounted a manhunt for the manager of a Dubai-based contracting company accused of deceiving the government-run Emirates Post by submitting a forged bank guarantee statement in return for a construction contract.
The Arab manager presented the guarantee statement for Dh7.5 million presumably issued by a local bank as a deposit for Emirates Post in case that company violated the contract for the construction of four new Empost offices.
The deal, awarded in 2008, stipulated that the project must be completed within a maximum period of 11 months otherwise Emirates Post would be paid that sum as a penalty.
When the company failed to deliver the project on time, Emirates Post tried to cash the guarantee cheque but found that it was forged.
“The company manager is now on the run after he was accused of deliberate fraud,” the Arabic language daily Emarat Alyoum said without identifying the defendant.
It said a court in Dubai opened hearings into the case on Monday but the trial was adjourned to February 18.
Follow Emirates 24|7 on Google News.