Dubai institution's financial manager fakes his arrest, embezzles Dhs11,097,000 and flees UAE
- 25 Sep 2022
Mohammed Yaseen, Staff Reporter
A financial manager embezzled Dhs11,097,000 from a major commercial institution in Dubai, after he seized the salaries of the employees and stole about Dhs8 million from a safe before fleeing to his homeland.
The Dubai Misdemeanour Court sentenced him to 3 years in prison in absentia and ordered his deportation after serving his sentence.
The details of the case date back to May 2022, when an agent of a commercial institution inquired about the reason for the arrest of a financial manager and the confiscation of millions of dirhams which were inside a safe for which he was responsible.
According to the statement of the reporter, one of the owners of the institution received a letter and some documents which later turned out to be fake, stating that the company had been raided by the police, and the money estimated at Dhs7,700,000 were seized from the safe which was under the financial manager's supervision and then he was removed administratively.
The agent of the owners of the institution continued that the police started investigating the report and the claim of the financial manager (the suspect). It was found that what the latter mentioned was incorrect according to the investigations, as an internal investigation was conducted in the institution and the surveillance cameras installed inside were reviewed and showed that the suspect went into the company, opened the safe and stole Dhs7,700,000.
He added that the internal investigations and audits of the company’s accounts showed that the suspect seized 3,200,000 of employees' salaries after presenting forged bank receipts stating the transfer of their salaries.
Investigations also showed that the manager transferred to himself the salary of 4 months, valued at Dhs143,000 in only 40 days.
According to the case file, the suspect, 26, took advantage of his powers, having the key to the safe, and embezzled the money, taking advantage of the lack of supervision, and fled to his home country.
