An account manager and the husband of a client will spend five years in jail after they stole £5 million (Dh23.6m) from the Emirati housewife’s account so her husband could buy Portsmouth Football Club.
Dubai Criminal Court convicted the Emirati manager, 42, of theft, forgery of official documents and use of forged official documents. The victim's husband, an Emirati also aged 42, was found guilty of forgery and use of forged documents as well as aiding and abetting. Both were sentenced to five years in prison.
Prosecutors said the 39-year-old housewife opened an account at a local bank in 2009 and began a fixed deposit. When she did not receive any profit she contacted the accounts manager.
"He sent me an email in August 2010 confirming that the procedures for the fixed deposit had been completed and recommended that I continue my investment for another year," said the woman, adding that she received several emails from the manager asking her to sign some documents, which she refused to do.
In September 2011, she emailed the manager asking him to transfer the amount of her fixed deposit to a different bank because she had not received any profit.
"But he kept stalling so I visited the bank and met the bank manager and another man, they told me that my account had zero money in it," said the woman, who reported the incident to the bank's legal affairs department.
"When the legal affairs didn't do anything, I reported it to Al Rashidiyah police station," she said.
The manager told police that the woman's husband was handling her fixed deposit after she gave him official authorisation, and that he - the husband - transferred the money to a law firm in the UK. Court records showed that the money was later used by the law firm representing the husband, to purchase the English Premier League football club Portsmouth.
The woman denied giving her husband authorisation to manage the account, saying "I didn't give my husband any authorisation to withdraw or transfer the money, I just gave him an authorisation to handle general inquires by phone and fax".
The court sentenced both men to five years in prison and ordered that the civil case be referred to the civil court.
England ODI squad
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
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THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
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Transmission: 8-speed automatic
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'Shakuntala Devi'
Starring: Vidya Balan, Sanya Malhotra
Director: Anu Menon
Rating: Three out of five stars
Teams in the EHL
White Bears, Al Ain Theebs, Dubai Mighty Camels, Abu Dhabi Storms, Abu Dhabi Scorpions and Vipers
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
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French Touch
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Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
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The specs
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Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
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