11 incarcerated over Dhs7m Bitcoin scam

DUBAI: Four men who battered twins and robbed them of Dhs7m AFTER summoning them to inalise A ‘Bitcoin deal’ were incarcerated with seven accomplices on Sunday.

The Arab mastermind, 43, cohort, 40, sales executive, 33, and Asian visitor, 40, mugged the Indian victim, 28, and HIS Brother, 28, INSIDE An OFICE In Al Khabaisi on April 25, THE DUBAI Criminal Court learnt.

They threatened to assault them with a razor. They grabbed Dhs7m from them along with an iphone and a Samsung mobile phone AND LED, ACCORDING to their complaints at Al Muraqqabat Police Station.

An Asian getaway car driver, 30, a ‘Bitcoin dealer’, 34, a mobiliser, 38, a deals negotiator, 37, HIS AIDE, 57, A Broker, 26, AND A Businessman, 55, were Found Guilty of aiding them and abetting the robbery.

Police records showed cops recovered Dhs3,683,830. The court jailed each one for three years and ordered that apart from the mastermind and his cohort, they all be deported upon completion of the jail terms.

In prosecution records, the victim who had interest in Bitcoins contacted a broker asking for 200 Bitcoins. They agreed on Dhs7m and set an appointment. He contacted his brother to bring the sum for the transaction.

He and his brother arrived at the ofice At Around 8pm, met THE DEFENDANTS and agreed to buy each coin at around DHS34,000. THE DEALER ASKED to irst SEE the money. He examined it, walked out and made a phone call.

Shortly after he had returned inside THE OFICE Four men MADE THEIR way In claiming they were CID personnel from Interpol and that Bitcoin dealings were illegal in the UAE thus the transaction was against the law.

They demanded the money. Both brothers refused to hand it over and requested to call the police or be taken to a police station. The gang members beat them, dragged them into another room, threatened them with the razor and robbed them.

Investigations REVEALED THE OFICE belonged to the businessman who also offered the gang his car to access the building’s parking lot. The mobiliser and broker searched for people in need of Bitcoins so they could assault and rob them.

Both contacted the negotiator, and his aide (who posed as the dealer’s assistant). The dealer met and convinced the victim he had digital currencies for sale at Dhs7m. He rather contacted the GANG members to RAID THE OFICE.