Dubai: A business consultant has been accused of tricking a businessman, who wanted to start a trading company in Dubai, and embezzling more than Dh18 million from him.

The South African businessman was said to have visited Dubai, got acquainted with the 34-year-old Pakistani consultant and met him for the purpose of setting up a company to trade in gold and metals in 2015.

The consultant allegedly lied to the businessman that he worked in the industry of establishing companies, according to records, before the South African agreed to do business with him.

The South African is believed to have paid the Pakistani money to obtain the required papers from the Department of Economic Development in Dubai and to rent an office for the company that he was planning to set up.

Having been appointed a manager in the company, the Pakistani used to get money from the South African and then he would wire the money to Africa to buy gold to be imported to Dubai.

In November 2016, the businessman decided to close down the company and carry out an inventory to calculate the assets that were around Dh18 million [including the consultant’s share].

Records showed the 34-year-old met with a Briton, one of the company’s assistant manager, to collect the Dh18 million from him.

The Pakistani claimed to the Briton that the police had seized the money for a particular reason and that they had to pay Dh1.2 million in fees to release it.

Afterwards, the consultant picked up the assistant manager, took him to meet someone in Deira and on the way three men, who claimed to be policemen stopped them, according to records.

The Pakistani informed the Briton that he would go with the three men and try to solve the matter and get the money released.

The Pakistani later contacted the Briton and gave him the police and prosecution papers to confirm that the seized money would only be released after paying a fee of Dh1.2 million.

The South African complained to the police when he realised that he had been deceived and swindled.

Primary police interrogation led to the arrest of the Pakistani but the three men who posed as policemen, remain at large.

Prosecutors accused the suspect of forgery, swindling and embezzling more than Dh18 million.

Prosecutors said the suspect conspired with the three fugitives against the businessmen, cheated and swindled him and embezzled his money using forged official papers [police and prosecution].

He also aided and abetted the three runaways in posing as policemen and stealing the Dh18 million.

When the suspect appeared in the Dubai Court of First Instance on Thursday, he pleaded not guilty. He told presiding judge Urfan Omar that he had nothing to do with the forgery.

When asked about his relationship with the South African, the suspect told the court that he was his business partner and owed him money, so he fabricated the case after he failed to pay him on time.

The trial reconvenes on July 10.