Banker cons businessman in Dh10m mortgage deal

Suspect lured him into mortgaging property against Dh10m that was then embezzeled

Asenior banker has been accused of deceiving a privileged customer and luring him into mortgaging his property against Dh10 million that the former siphoned off for himself and absconded.

The customer, a famous Emirati businessman, was said to have received a call from someone, who claimed to be the accounts manager of the bank’s privileged clients, to discuss business potential with him in October 2016.

Once the caller convinced the businessman to meet him, the senior banker visited the customer at his office, according to records, and talked him into doing business.

Credit facility offered

The senior banker, who turned out to be a Saudi national, informed the Emirati that the bank would provide him with Dh10 million credit facilities against mortgaging one of his properties in Abu Dhabi.

Following several meetings, the Emirati accepted and provided the Saudi banker with copies of his personal identification papers and private details for the purpose of completing the transaction.

When the bank’s department of combating fraud, corruption and money-laundering examined the transactions and submitted papers, it was discovered that the Saudi senior banker had forged several papers and signatures and provided wrong details before he pocketed the Dh10 million and absconded. He reportedly executed a number of dodgy transactions before he pocketed the money for himself in collaboration with a Chinese saleswoman.

The 30-year-old Chinese saleswoman was apprehended by the police who are still searching for the Saudi absconder. The Chinese woman pleaded not guilty when she appeared before the Dubai Court of First Instance yesterday. The trial continues.