A man in the UAE has been sentenced to one month’s imprisonment, deportation, and a fine of Dh625,805 for defrauding his childhood best friend of almost Dh1.2 million (approximately 17,769,802.08 in Philippine peso) in an investment scam.
According to the Public Prosecution, the accused convinced his friend to invest in the import of medical syringes for a well-known medical equipment company, claiming they had a contract with an official authority.
He provided the victim with forged documents, and after days of no contact, the victim became suspicious and contacted the police.
The accused was arrested while attempting to leave the country.
The victim reported that the accused promised him large profits and presented him with a temporary work contract and identification card, both of which were found to be forged.
The accused admitted to returning a portion of the money but still owed the victim Dh625,805 (Php 9,263,021.36), which he promised to repay within 10 days.
