Banker steals Dh1m via fake accounts

diplomafraud December 26, 2013 0

By: Eman Al Baik

An Egyptian bank employee in Dubai allegedly opened a second bank account of a client and forged documents to obtain a loan on the account, after which he transferred the amount to another fake account that he had created and withdrew money from that account, thus embezzling about a million dirhams.

Banker steals Dh1m via fake accounts
The victim AR, 40, Syrian businessman, told police that in 2009 he had opened an account with the bank and deposited Dh4 million in the bank’s depository system.

“I was considered as a privileged client and the bank assigned MH to service all my transactions with the bank. Last July 6, I approached the bank’s Bel Rumaitha branch in Nad Al Hamar area where I was told that I had two bank accounts  with them though I had opened only one.

“On enquiring, I was told that the second account was opened in 2013 and an application for a loan of Dh1.5 million had been made. The amount had been deposited in my second account. I was not getting any message or call from the bank as the application carried a contact number that was not mine. The bank also revealed that the loan had been transferred to the account of a client identified as MR. Checking the transfer documents, I reported that the signature was not mine so I lodged a complaint with the police,” testified the victim.

Investigations revealed that MR, 28, Indian businessman, had approached the bank’s branch in Qusais in June 2012 to open an account.

“An employee had asked me to submit documents needed to open an account and asked me to wait for 15 days to get their answer of acceptance or refusal. I waited for the period but I did not get any answer from them, so I opened an account with another bank. I have no idea about the account that had been opened in my name with that bank,” MR told investigators.

The bank contacted all banks whose ATMs the suspect had used to withdraw money from MR’s account.

“We reached our employee MH, 33, who had been captured by a camera of a bank’s ATM while withdrawing money using a card in the name of MR,” testified MM, Emirati manager at the bank.

It was found that MH had forged documents for opening another account in the name of the victim and an account in the name of the Indian businessman who had applied to open a account using the documents he had submitted.

Court records also mentioned that MH had forged the signatures of both the victim and the Indian businessman on money transfer documents and, using a credit card issued in the name of the Indian businessman, withdrew a total of Dh980,000.

Police arrested MH and confiscated Dh180,000 in MR’s forged account. The sister of the accused, SH, 33, who was keeping documents related to the two forged accounts, denied any knowledge about her brother’s crime.

“A day before his arrest, on July 7, he came to my house and asked me to keep a bag and a mobile phone with me until he would ask me to return them. I took the bag and kept it my work place,” testified SH.

SH handed over the bag and the mobile phone to the police. MH had used the same mobile number as a contact for the two forged accounts.

The court will reconvene on January 5.

This article originally appeared on emirates247

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