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Abu Dhabi, UAEMonday 25 June 2018

Banker jailed for embezzling almost Dh900,000 from employer

Pakistani made cheque for Dh635,000 out to his wife and embezzled more than Dh250,000 in cash over an 18-month period

An assistant bank manager who embezzled almost Dh900,000 after forging documents has been sentenced to one year in jail, ordered to return the money and also pay an equivalent fine.

The 31-year-old Pakistani forged the signature on a cheque and embezzled Dh896,742 from the bank branch where he worked in Dubai.

He embezzled Dh261,742 and forged the signature on a cheque worth Dh635,000 and changed the beneficiary name to his wife before cashing the cheque. The crimes were committed between November 2015 and April 2017.

The man, who was assistant manager of the mortgage and property loans section, was arrested on June 7 when the bank discovered the embezzlement after an in-depth investigation.

Dubai Criminal Court on Wednesday ordered him to pay back Dh828,687, pay an equivalent fine and then be deported after serving his jail term.