Indian police have made an arrest while searching for a man who pretended to be an employee of a prominent UAE family and stayed at a luxury hotel in the capital Delhi for four months before fleeing without paying the $28,000 bill.
Authorities said the man they arrested, Mohammed Sharif, 41, previously worked with a wealthy family in the UAE for nearly 10 years and was attracted by the luxurious lifestyle, developing a taste for designer shoes, cars and clothes.
Mr Sharif, who holds an MBA in finance and business management, frequently travelled with the family, but in 2020 he had to return to his hometown of Puttur in southern Karnataka, where he felt out of place, they said.
He decided to stay at a five-star hotel to “feel better”, police believe.
An investigating officer said the man they arrested told them how impressed he was with the family's lifestyle, especially the grand homes.
"He wanted to recreate that life in India,” he said.
“He also showed us his shoes and claimed they cost rupees 100,000 ($1,200). He claimed he bought his T-shirts for 10,000 rupees ($120).”
Authorities launched a manhunt last week following a complaint by the Leela Palace hotel that a guest fled without paying his hotel bill and stole silverware and pearls during his four-month stay.
The hotel said he produced a business card, a UAE resident card and other documents and routinely chatted with the hotel staff about his life in the UAE to corroborate his story.
However, authorities at the time said the UAE resident card appeared to be fake and said they didn't initially believe he had any connection to the Emirates.
They said the man stayed at the hotel until November, racking up a bill for more than 3.5 million rupees (US$43,000).
While he paid 1.1 million rupees, he wrote a cheque for a further two million rupees, dated November 20, before vanishing. It bounced two days later due to insufficient funds.
Police said they traced a sim card to Karnataka’s Dakshina Kannada district, with the help of technical surveillance.
During the investigation, it was found that another guest had previously stayed at a five-star hotel in Mumbai for more than six months, racking up a bill of 9 million rupees.
Police said he is suspected of wanting to find investors for fake schemes to make more money.
“He was allegedly planning to flee without paying the bill but was caught by hotel staff and had to pay 6 million rupees. He has assets but is currently unemployed,” police said.
Mr Sharif has been charged with fraud, theft and impersonation.
UAE currency: the story behind the money in your pockets
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The biog
Name: Abeer Al Shahi
Emirate: Sharjah – Khor Fakkan
Education: Master’s degree in special education, preparing for a PhD in philosophy.
Favourite activities: Bungee jumping
Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.
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Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
'The Sky is Everywhere'
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The specs: 2019 BMW X4
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Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
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The specs
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SPECS
Engine: Two-litre four-cylinder turbo
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