Abu Dhabi police arrested an Arab man on charges of swindling nearly Dh11.8 million from another Arab expatriate and his employees.
The company owner told court that he paid the defendant nearly Dhnine million to invest in an electric systems projects and that the defendant also embezzled money from the company’s employees.
He said the defendant was paying monthly profits to his employees but that he had not received any funds.
“The company owner said that when he asked for Dh100,000 to fund his son’s wedding, the defendant refused to pay….he then made him write a cheque for Dh11.8 million including the loan and profits after threatening to report him to the police,” 'Al Ittihad' daily said.
It said the defendant denied he had taken all that money and claimed he had signed a cheque for that sum just to reassure the plaintiff. He said he had borrowed only Dhthree million and that he intends to pay back.