Some analysts caution against buying at peak prices
uae1 hour ago
A 46-year-old Asian has been ordered to pay $250,000 to an American after he defrauded her by pretending to be the owner of a garment manufacturing company.
The court also sentenced him to six months in prison, followed by deportation after serving his term.
According to the investigation, the accused told the victim that he owns a business in his home country and imports products to Dubai and parts of Europe. He presented her with false documents to convince her to be his partner.
In her testimony, the woman said the man had provided names of investors and a website to reinforce his claim. He also reportedly told her that he earns 12 per cent annually from his business and that she would receive 5 per cent as net profits if the partnership was approved.
The victim agreed to the details of the partnership and signed a fake contract, after which she transferred $250,000 to the man from her account in her home country. Soon after receiving the money, the accused turned off his phone. A team of investigators later arrested the man.
ALSO READ:
Some analysts caution against buying at peak prices
uae1 hour ago
While the LDP's seats as projected by NHK tumbled to 191 from 259 seats at the last election, the CDP's tally soared to 148 from 96
asia1 hour ago
Temperatures will drop to a low of 17°C in the mountains
weather1 hour ago
The accident took place in the direction heading to Abu Dhabi
uae2 hours ago
Those crossing in undesignated areas will be punished with not less than Dh10,000 fine and imprisonment for a period of not less than 3 months
transport3 hours ago
Stunningly green reserve remains closed to general public, but exclusive guided events are hosted under ‘Leaders of Change’ programme
uae attractions3 hours ago
On September 1, the UAE announced a two-month long amnesty which gave hopes to thousands of people who have been living illegally in the country
uae3 hours ago
The minimum application size for first tranche subscribers is Dh5,000 with any additional application to be made in increments of Dh1,000
business3 hours ago