Abu Dhabi: A European was jailed pending investigation in a case involving a forged tourism investment contract worth Dh500 million.
The defendant allegedly used the contract to con another investor, the Public Prosecution announced on Sunday.
A local company had initially filed a complaint against the European, alleging that he was marketing fraudulent projects under the company’s name. This claim came after the company received an inquiry from an Asian investor regarding the reportedly forged contract.
According to the complaint, the Dh500 million contract involved building 85 villas belonging to one of the hotels in Al Ain. The Asian investor told the company that he had received an offer to build the project in exchange for a Dh300,000 commission which the European had allegedly asked him to pay.
The Asian investor grew suspicious after noticing how low this illegal commission was relative to the monetary value of the project. This prompted him to contact the company, whose name was allegedly used to market the false project.
After setting a trap to capture the suspect, the police searched his Dubai home and found the forged documents. Police say that the documents used false stamps and signatures resembling the ones that would normally be used.
On his part, the defendant acknowledged possessing the papers but denied using them for any purpose.
A spokesperson at the Public Prosecutor’s Office said that the best way to avoid being scammed is to deal directly with sources and stay clear from unlicensed realtors.
