Man conned business partner out of $4.5m, Dubai court hears

DUBAI // A man denied forging official documents and using them to con his business partner out of more than US$4 million.

At Dubai Criminal Court on Thursday, the Pakistani defendant, 34, denied charges of forgery, use of forged documents, fraudulently obtaining Dh120,000 and $115,000 as well as stealing $4.5m (Dh16.5m) from his South African business partner.

He is also charged with aiding and abetting several men who posed as police officers to help him steal the money.

The 39-year-old South African told prosecutors that he started a business with the defendant in 2015 trading in gold and currency and that he paid all the expenses, including the $115,000 in rent for an office in Al Muraqqabat.

A year later he wanted to end the business and the men agreed that the defendant pay back half the amounts his partner had paid.

“He was supposed to pay me $2.2m and hand me an amount of $2.7m from the company’s money that was in his possession,” said the South African, adding that he sent his British assistant manager to collect the money from the defendant.

“We met and he collected some of the cash from a client then, while on our way back, we were stopped by three Emiratis who said they were CID and confiscated the cash,” said the 33-year-old assistant manager.

He claimed that the defendant said the money was seized because one of his currency exchange clients was not licensed.

“He showed me official documents stating the money was seized and would only be released after paying Dh120,000, which his partner paid and I handed it to him myself,” the assistant manager said.

The South African started investigating on his own and told prosecutors that he spoke with the landlords of the office he was renting, who told him that the defendant never paid them the Dh115,000, after which the partner lodged a police complaint.

The defendant denied all charges against him and told judges the court that his partner filed this malicious case because he could not repay him an amount of $2.2m.

The next hearing will be on July 10.

salamir@thenational.ae