Abu Dhabi investor wins case after being duped by fake trading scheme; court orders Dh268,300 repayment

Abu Dhabi: The Abu Dhabi Civil Family Court has ordered the owner of a trading company to repay Dh268,300 to a man he deceived into transferring money for a purported investment scheme.

The court also ordered the defendant and his company to jointly pay Dh5,000 in compensation for the harm suffered by the victim.

According to court filings, the plaintiff brought a civil suit against the company and its owner, seeking Dh358,581 in damages plus 12 percent interest, arguing that he had been misled into believing his funds were being invested through a legitimate trading operation, Emarat Al Youm reported.

He told the court that the defendant repeatedly convinced him to deposit money into the company’s bank account, sending fabricated profit reports over WhatsApp to suggest the investments were growing.

The plaintiff later discovered he had been defrauded, and the defendant was subsequently convicted in a criminal case, receiving a one-year prison sentence and an order of deportation upon completion of his term.

In its ruling, the civil court relied on findings from the criminal case, which established that the defendant had used electronic means to unlawfully obtain Dh268,300 from the victim by falsely claiming he could invest the funds through his trading company.

The defendant bolstered the deception, the court noted, by sharing fabricated earnings screenshots and persuading the victim to make multiple transfers.

The court said it found no evidence supporting the plaintiff’s additional claim that he had transferred USD 24,871 (Dh90,281) via an online trading platform to the defendant, noting that there was no proof the platform belonged to the accused.

On the issue of compensation, the court ruled that the defendant had committed a wrongful act by misappropriating the funds, causing the plaintiff financial harm by depriving him of a legitimate economic interest.

While the plaintiff failed to prove additional material losses, the court recognized emotional distress caused by the fraud, including “sadness and distress,” warranting a modest compensation award.

The court ordered the defendant and his company to jointly repay Dh268,300 and to pay Dh5,000 in damages, along with court fees and expenses.