UAE: Man jailed for defrauding best friend of nearly Dh1.2 million in investment scam

A man of Asian descent has been convicted for defrauding his childhood best friend of Dh1,191,000. The accused convinced the victim to invest his money in importing syringes used in medical vaccines for the benefit of a well-known medical equipment company, which he claims was in contract with an official authority.

The Public Prosecution referred the accused to the Misdemeanours Court on charges of appropriating the money of others in a fraudulent manner. The court sentenced him to one month's imprisonment, deportation from the state, and a fine of Dh625,805.

According to police records, the accused presented the victim with forged documents, so the reassured victim handed over the amount. After days passed with no contact from the accused, the victim grew suspicious that his friend was trying to avoid him. He contacted the police and filed a report, and the accused was arrested while trying to leave the country.

The victim said that the accused promised him that he would make large profits if he contributed to the financing of the import of medical syringes used in vaccines, and even presented him with a temporary work contract attributed to an entity concerned with supplying employees to the major medical equipment company.

He also handed him an identification card issued by the same company, so that he could enter the cargo area at the airport.

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