DUBAI // A bank worker and his accomplice were both jailed for three years by Dubai Criminal Court on Monday for embezzling more than Dh6 million through loans taken out using forged documents.
The court heard that between 2010 and 2011, personal loans representative S Z, 42, and his accomplice N S, 30, both Pakistani, carried out an scam to defraud the United Arab Bank.
N S forged work licences from the Ras Al Khaimah and Umm Al Quwain economic development departments, as well as Emirati passports and salary certificates. He gave these forged documents to S Z, who used them to apply for loans for people who did not exist.
Once the loans had been approved, N S paid them into bank accounts created in the fake names.
The total amount of the loans was Dh6.52 million.
The fraud was discovered when bank staff noticed a passport copy attached to a loan applications was a forgery. The audit department checked S Z’s work and discovered five other loan applications had also been forged.
N S appeared in court last April but was not asked to enter a plea. S Z, who was not present, was found guilty of forging and using forged bank applications and with fraudulently obtaining money from the bank.
Both were sentenced to three years in jail and jointly ordered to pay Dh21,000 in compensation to the bank . Both will be deported after serving their jail terms.
salamir@thenational.ae
