DUBAI // An executive manager of individual sales at Dubai Commercial Bank was sentenced to six months in prison today for embezzling more than Dh2 million.
The Dubai Criminal Court of First Instance found that the 28-year-old Indian RA took Dh2,560,087, and he was fined the same amount. He also was convicted of forging official electronic documents to cover his trail.
RA admitted to both charges and said he returned the funds to the bank, providing documents to prove it.
Prosecutors said RA, who was in charge of bank transfers, started embezzling on August 15, 2007.
He ordered employees under him at the Al Maktoum branch to deduct "bank facilitation fees" from clients' accounts, and instead of depositing them with the bank, he schemed to transfer them to accounts under a male alias and his sister's name.
Records show his sister knew nothing of the scam.
Prosecutors said RA invested the money in the Indian stock market through Axix Bank in India and earned more than Dh300,000.
salamir@thenational.ae
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Race card
6.30pm: Emirates Holidays Maiden (TB), Dh82,500 (Dirt), 1,900m
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In numbers: PKK’s money network in Europe
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Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
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At a glance
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Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
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The rules on fostering in the UAE
A foster couple or family must:
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- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.
Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.
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Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
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RACE CARD
6.30pm: Handicap (Turf) US$175,000 1,000m
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