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Four jailed for AED 342,000 bitcoin fraud in Dubai

A Dubai Court has sentenced four people including a fugitive to one-year prison term for the Bitcoin fraud.

The Court also imposed a fine of AED 342,000 for robbing three women in the case of August 2021. The three women filed a report claiming that they had been forcibly robbed by a gang of African nationals.

RELATED STORY: Global cryptocurrency crimes hit record $14B in 2021

One of the victims stated that an African offered her to buy a digital currency for AED 300,000, agreeing to meet him in Al Nahda area and at the decided time, she and her two friends headed to the Al Nahda area in Dubai, where they were taken by surprise to see four people with weapons and a metal axe.

They immobilized the victims, demanding their money for the digital currency deal and one of the culprits managed to steal a bag containing AED 300,000 in one of the victim’s possession.

RED ON: KNOW THE LAW: Five years jail, AED1m fine for cryptocurrency scammers in UAE

The second victim stated that one of the accused stole her bag containing AED 63,000.

Staff Report

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