An Abu Dhabi court has ordered a man to return more than Dh396,000 and pay Dh50,000 in damages after ruling that he deceived another individual into investing in a bogus online trading scheme that falsely promised secure profits.
The Family, Civil and Administrative Claims Court found that the defendant deliberately misrepresented an unregistered trading platform as legitimate, convincing the victim to transfer money in several instalments. Evidence showed that the platform had no legal registration and was designed solely to defraud investors.
Court records revealed that the defendant initially allowed the victim to withdraw a small amount of supposed “profit” to gain his trust. This tactic persuaded the plaintiff to invest larger sums, which were later taken under the defendant’s control through fraudulent means.
Judges ruled that the scheme caused both financial loss and emotional distress, noting the victim’s regret and anxiety after realising the deception. The court ordered full repayment of the lost funds plus compensation for damages, bringing the total amount the defendant must pay to over Dh446,000, excluding legal costs.
