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Wed 28 Aug 2019 10:24 AM

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Dubai police to investigate $4m rice export scam

6,000 tons of rice from India, destined for Dubai, went missing

Dubai police to investigate $4m rice export scam
As many as 23 TTs worth AED15.38 million were cancelled after cheques issued against them bounced because of insufficient funds.

Prosecutors in Dubai are investigating a multi-million dollar rice export scam.

According to a report in Gulf News, Dubai’s Public Prosecutor has ordered Jebel Ali Police to look into the alleged fraud against six men and two companies, including an exchange house.

The scam surrounds a shipment of 6,000 tonnes of rice from India to Dubai in 250 containers, which went missing between March and April this year.

Farag Deifalla, legal consultant at Yousif Alhammadi Advocates and Legal Consultancy, said suspects claiming to represent Dubai-based Al Rawnaq Al Thahabi General Trading company duped his clients out of millions of dirhams with the help of staff at a money exchange house.

Gulf News reported that as many as 23 TTs worth AED15.38 million were cancelled after cheques issued against them bounced because of insufficient funds.

However, when the duped traders travelled to Dubai to investigate the situation themselves, Al Rawnaq’s rented warehouse in Al Quoz, where the rice containers were delivered, was empty as was the company’s office at XL Tower in Business Bay.

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