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article imageBanker in Dubai charged with embezzlement

By Owen Weldon     Aug 23, 2011 in Crime
A manager of a bank in Dubai admitted that he embezzled Dhs2.5 million from his employers. The banker is now being charged with embezzlement.
The 28-year-old bank manager admitted that he embezzled a lot of money from his employers.
The Indian executive went to court on Monday, where he went on trial at the Dubai Court of First Instance. The man ended up pleading guilty to embezzlement charges as well as forging electronic documents, according to 7days.
The former manager is said to have embezzled the money between August 2007 and September 2010.
The charge sheet says that he wired money to phony bank accounts by creating fake transactions. He issued orders electronically. The man created fake accounts strictly for the purpose of embezzling.
According to the khaleej times, the Public Prosecution got the former manager to admit his wrongdoing during an interrogation.
A woman who worked at the bank for the former manager told prosecutors that she told on the man. The woman witnessed the last embezzlement that he did back in September 2010.
The woman said that her former boss told her not to take a printout receipt of a transfer from a customer’s account to his sister’s account. The woman reported her former boss to the business manager. A short time after that, the bank found out that the man embezzled money.
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