Dubai: Bank manager receives bribe to facilitate AED2,250,000 theft

The Dubai Public Prosecution referred three Asians and two companies to court after they were charged with fraud, bribery, and theft of two million and 250,000 dirhams from a bank.

Official documents revealed that the first defendant used the powers granted to him as a bank manager at a bank owned by the Government of Dubai, following up on transactions with companies that the bank deals with, to illegally forge official documents and contracts between the bank and two companies. While receiving a bribe of AED 400,000 from the first company represented by the second defendant, and AED 82,000 from the second company represented by the third accused, in exchange for helping the second defendant seize AED 2,250,000, in addition to forging bills of AED 21,450,000 and illegally using the bank stamp and forging official signatures.

The first accused confessed to forgery of the contracts and granting the other defendants credit privileges in exchange for bribery.