x Abu Dhabi, UAETuesday 23 January 2018

Oil firm employee gets five years for Dh800,000 theft

Man took advantage of banking error to transfer funds into his personal account.

DUBAI // An employee who stole nearly Dh800,000 from Gulf Services and Oil Field Supplies Company will be imprisoned for five years, a court ruled this morning.

The Dubai Criminal Court of First Instance convicted QE after it was told last month that the 49-year-old Pakistani, a finance manager at the company, stole Dh797,500 from the company's bank account. MT, 44, from Bangladesh, was accused of helping him in his scheme.

MT was charged with aiding and abetting QE but was acquitted.

QE submitted forged documents to the company to embezzle the money. Based on the forged documents, Dh1,150,000 was transferred to a bank account that belonged to MT, records said.

Prosecutors said that after receiving the amount, MT took Dh352,500 and transferred the remainder to QE.

Prosecutors said the incidents took place between July and September 2008.

KK, general director of Gulf Services testified that the company learnt of the theft in June 2009 after receiving information from their bank about the illegal transfer.

He said QE took advantage of a bank error in which money was transferred from a company account but never deducted. QE discovered this fact and took the money.

QE will be deported after serving his prison term.