UAE: Man defrauded of Dh200,000 in bitcoin trading – News

The convicted man claimed to be a digital currency trader and confiscated the amount

Published: Sun 8 Jan 2023, 7:30 am

Last update: Sun 8 Jan 2023, 7:39 am

An Asian woman seized 200,000 dirhams from an Arab investor who claimed to buy digital currency from her. The Dubai Misdemeanor and Offenses Court convicted her and fined her Dh20,000, in addition to the amount seized.

In 2021, an investor had reported that an Asian woman had scammed him. He said that he met a woman who claimed to be selling Bitcoin, to whom he expressed interest in terms of investment.

The victim said that she went to the women’s office in International City and gave her 200,000 dirhams in exchange for Bitcoin.

He said he was still waiting for a notification about the deal, but the woman said it would be delayed due to a technical malfunction.

The victim left the office and waited for the next day. However, when the notification still did not arrive, he realized that he had been scammed and filed a complaint.

A police officer involved in the investigations said the woman said she had been asked to buy a local currency in exchange for the money. The convicted woman added that she completed the transaction and sent the money to an account in her country,

However, the woman did not prove her claim, so she was referred to court on charges of fraud and breach of trust.


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