DUBAI // A shopowner who wanted US$2.5 million for what he said was a 4,700-year-old magical ring that could give its owner sexual prowess was yesterday acquitted of possessing fake currency.
The Criminal Court found A M, 45, the Egyptian owner of a herb shop, not guilty of possessing a fake US$100 note and €500 note found at his shop.
The shopowner was put under police surveillance after his friend, A H, advertised the ring for sale and commissioned him to find a buyer.
A sting operation was then put into action, in which an officer arranged to meet A H in Al Nahda on June 12 this year. The officer, pretending to be interested in buying the ring, told him he wanted to negotiate for it.
They both went to meet the shopowner, who agreed to reduce the price to $1.7m (Dh6.2m).
The officer made an upfront payment of $600,000 and asked A M to sign a receipt.
An hour later a police team arrested the shopowner and his friend, who was not charged.
Officers also confiscated the ring, along with a letter certifying that it was genuine from the salesman’s shop, where the fake currency was found.
The ring is still in the possession of the police.