A Dubai court turned to Interpol to catch an unscrupulous investor.
The Dubai Prosecutor’s Office issued an arrest warrant for an investor who was sentenced to three years in prison for issuing another entrepreneur an unsecured check in the amount of AED 214 million ($ US 58.2 million).
Earlier, a court in Dubai sentenced the accused in absentia to three years in prison.
The court documents said that an investor from Afghanistan took part in a number of business projects in Dubai from 2006 to 2014. When the accused had financial difficulties, he applied for a loan to another businessman. The men signed an agreement according to which the debtor undertook to pay money in January 2018. He provided the creditor with a guarantee check, but could not fulfill the terms of the agreement.
When trying to cash a check, the entrepreneur found out that there was not enough money on the indicated account to pay the payment. A worried businessman went to the police. It turned out that the accused fled from the UAE. A Dubai court appealed to Interpol to detain an unscrupulous investor.
According to local law, since the accused was sentenced to a prison term in absentia, he has the right to re-examine the case after his arrest.
