Exchange employee faces Dh1.36m theft charge

Dubai: A former money exchange employee has appeared in court charged with violation of trust and deleting information from the IT system of his employer.

According to public prosecution documents lodged at the Dubai Court of First Instance, the 32-year-old Indian employee was accused, along with another man who police have not been able to arrest, of misappropriating Dh1.36 million from the exchange house and later deleting data and amending purchase invoices in the system to conceal the theft.

Purchase operations

The public prosecutor said the man had confessed to all charges. However, the accused reportedly denied the confession in court and his lawyer wanted to submit arguments in his client's defence.

K.K., an Indian financial controller at the same money exchange company, testified that he found sales and purchase operations in the account of the defendant, who was an accountant at the company. This was after the defendant's account was closed about eight months ago when he was transferred to Al Aweer branch and assigned office work. The company audited his old records, when it was found that he allegedly carried on transactions worth $300,000, public prosecution's papers revealed.

The financial controller sent the documents to the head of IT section at the company, who, while auditing, found that the second suspect, an employee of the IT section, had allegedly entered the company's system using his password and deleted and amended some data. When the IT manager confronted the second defendant, he allegedly confessed to helping the first defendant.