Dubai: Businessman tempts man with fake profits, takes over AED 50,000

Dubai Court charged a businessman with fraud after he was accused of convincing a translator into investing AED 50,000 in an alleged ‘project management company’. Prosecutors accused the 30-year-old man of forging a trade licence that he falsely attributed to the Department of Economic Development (DED) in Dubai.

According to public prosecution records, the businessman convinced the victim to give him the amount after signing a contract and promising him a monthly revenue of 15 per cent of the capital. However, the defendant denied charges of fraud and forgery at the Court of First Instance.

The complainant, a 32-year-old translator, stated that he went to the offices of the fake company after reading an advertisement about them online.

The complainant received his first cheque of AED 7,500 in June. He got two more valid cheques but after that, he started getting only bad cheques from the businessman.

The complainant went to the police after the businessman failed to pay him the remaining amount of his dues.

A letter from the DED stated that the trade licence used by the defendant is “not registered in their records”. The businessman admitted during the public prosecution investigation that he collected AED 50,000 from the complainant and that he promised him the said profits.  The trial has been adjourned to January 28.