UAE | Crime
Accountant denies taking bribe to cover up Dh23m in money transfers
Prosecution claimed that the accused accepted Dh450,000 and dinner invites
- By Bassam Za'za', Senior Reporter
- Published: 00:00 February 24, 2012
Dubai: A general accountant has denied taking Dh450,000 and dinner invitations in kickbacks to conceal fraudulent money transfer activities worth Dh23 million at a money exchange.
Prosecutors accused the money exchange house's 37-year-old Indian general accountant, A.S., of abusing his position and accepting bribes in the form of cash, dinner invitations, clothes and a mobile phone to cover up for the bogus money transfer activities.
The defendant was said to have abused his authority to access the electronic system and preparing unsubstantiated financial reports in which it was claimed that the cash was deposited in the house's bank account.
Prosecution records said an Indian suspect, identified as A.M. [who remains at large], was the main culprit in the case. A.M. represented a company that dealt with the money exchange before he allegedly siphoned off Dh23 million and fled the country.
According to the arraignment sheet, prosecutors said A.S. committed electronic forgery to cover up the bogus money transfers of A.M.
"No sir I did not take any bribes or forge any documents. I am not guilty," said A.S. when he defended himself before the Dubai Court of first Instance on Thursday.
A.S.'s lawyer asked Presiding Judge Hamad Abdul Latif Abdul Jawad to adjourn the case to hear prosecution witnesses.
Prosecutors said A.S. was in charge of preparing financial and auditing reports of cash deposits in the bank accounts.
The money exchange's Emirati manager claimed during prosecution questioning: "A.M. was supposed to deposit cash in the house's accounts before getting the required approval to transfer the money to any other party.
"However, we discovered that A.S. repeatedly approved fraudulent money transfer activities [from the exchange house to A.M.'s company] although he was aware that the money had not been deposited for real."
The manager said A.M. conducted bogus money transfers that reached up to the tune of Dh23 million and A.S. collected kickbacks to cover up for A.M.'s fraudulent transactions between August 2008 and September 2009.
The court reconvenes on March 22.
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