A corrupt bank manager was ordered to pay Dh20 million after being convicted of stealing Dh10m from a customer.
Dubai Criminal Court heard how the Saudi manager used his position to set up a legitimate loan for a client which he then stole.
By forging signatures and using fake mortgage documents he was able to siphon cash from the account the loan was sent to.
An accomplice helped him hide large amounts of the money, which bank officials only spotted was missing during an annual audit in July 2017.
The bank manager, whose name was not given in court and who has since fled the UAE, was sentenced to five years in prison in his absence.
His Chinese accomplice was jailed for six months.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
What is double taxation?
- Americans living abroad file taxes with the Internal Revenue Service, which can cost hundreds of dollars to complete even though about 60 per cent do not owe taxes, according to the Taxpayer Advocate Service
- Those obligations apply to millions of Americans residing overseas – estimates range from 3.9 million to 5.5 million – including so-called "accidental Americans" who are unaware they hold dual citizenship
- The double taxation policy has been a contentious issue for decades, with many overseas Americans feeling that it punishes them for pursuing opportunities abroad
- Unlike most countries, the US follows a citizenship-based taxation system, meaning that Americans must file taxes annually, even if they do not earn any income in the US.
Everybody%20Loves%20Touda
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