A banker, his wife and 11 fellow Indians face charges relating to $9.2m being fraudulently obtained from a Dubai bank, according to The National newspaper.
Commercial department manager M F, 50, and his 46-year-old wife, D F, both from India, appeared at Dubai Criminal Court charged with embezzling the money from the Commercial Bank of Dubai after fabricating business dealings with managers at 11 companies.
Eleven managers, all Indians, also face charges of aiding and abetting the couple.
Prosecutors said the alleged fraud dates back to 2006, up until May last year.
Emirati HR manager at the Commercial Bank of Dubai, H A, 34, started raising suspicions that MF was embezzling money when he strayed from protocol while working at the bank’s Jebel Ali branch.
“The suspicions began when he directed one of the employees to close an active account because its holder had died, despite the fact that there was one operation made on that account that day and that this was not the procedure taken to close an account for the death of a client,” the Emirati told the court.
Following the incident, evidence of embezzlement was found after an audit of the documents in MF’s department was conducted.
O S, the bank’s auditing manager, told the court that the defendant had denied any wrongdoing.
“He said he had nothing and asked for a day to prepare his detailed answers,” said O S.
It was then that the bank lodged a police complaint against M F.
Follow us on
