Dubai police arrest man for selling bogus company

Dubai: Dubai Police's Criminal Investigation Department (CID) has arrested an Arab national living in Dubai, identified as A.A., for selling a European investor a bogus company for $30,000 (Dh110,100).

The European investor was duped into paying $30,000 for a trade licence to open a company and for a residence visa stating his position as the managing partner of that company.

He paid the requested amount but did not receive anything in return and was unable to contact A.A. afterwards.

The culprit was arrested in Karama and confessed his role in the scam when questioned. He was transferred to the public prosecution for further investigation.

CID warned people against falling victim to such scams.