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Abu Dhabi, UAEWednesday 19 December 2018

Bankers cleared of taking $10m in bribes to forge loan application documents

Three HSBC workers were acquitted of all charges at Dubai Criminal Court

Three bankers accused of accepting US$10 million in bribes from a man to alter loan application documents have been cleared of all charges.

The men - two Pakistanis, aged 26 and 33, and a 35-year-old Filipino - worked for HSBC and between June and November 2015 and were accused of forging documents in return for money.

On Monday, Dubai Criminal Court acquitted them of charges of accepting bribes, forging documents and using the forged documents to accept loan applications.

A Nigerian man, who remains at large, was also acquitted of aiding and abetting by allegedly offering the bribes.

Prosecutors said the three men admitted to the crimes during investigations but pleaded not guilty at court.

Court records did not disclose if any of the alleged loan applications were approved.

Updated: October 23, 2017 04:38 PM

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