3 jailed in attempt to withdraw Dh2.5bn through fake documents

Abu Dhabi Court of First Instance has indicted two Iranians and one UAE national in an attempt to withdraw about 500 million euros (Dh2.5 billion) from a UAE bank through forged documents.

The court sentenced the two Iranian to five years in jail and the UAE national to three years.

Recent cases of fraudulent withdraw attempts from the UAE Central Bank heard by Abu Dhabi judicial Department (ADJD) over the last few months do not constitute a trend, an official from ADJD has said.

ADJD added that rigorous control measures implemented by the police and CB could detect all these attempts which were very limited in number.

Nevertheless, it is important for ADJD to warn all residents in the country from falling victims to the temptation of quick gains and helping criminal rings to do their fraudulent withdraw schemes. Judicial system will order the harshest possible punishments to those who involve in any fraud scheme against the CB or any other bank in the country.

"Despite repeated warning regarding fraudulent transactions, some people still involve in such scheme in a way or another. It has been almost the same scenario and the same mastermind from the same country in all cases. A person based in other country (especially Iran) claims he wants to withdraw his money from his (false) bank account with a Bank in the UAE or the CB itself. However, he always gives powers of attorney to a compatriot and ask him to leave for the UAE to do the transaction on behalf of him against a certain per centage of the amount. The latter would come to the UAE and ask some middlemen who know about banking to facilitate his job through false documents," the official said.

"However, all these attempts have failed. All UAE based bank have rigorous anti-money laundering and suspect transaction measures. All those who involved in the attempts are serving their prison term," ADJD added.

The statement by ADJD came immediately after Abu Dhabi Court of First Instance's indictment of two Iranians and one UAE national in criminal attempt to withdraw about 500 million euros from a UAE based bank. The court sentenced the two Iranian to five years in jail and the UAE national to three years.

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