ABU DHABI // Three Iranians who attempted to withdraw Dh14.4 billion (US$3.9bn) from the Central Bank were seeking to undermine the national economy, prosecutors have claimed.
IK, an Iranian, and NB, a naturalised American of Iranian descent, appeared in the Abu Dhabi Criminal Court of First Instance yesterday charged with fraud and forging documents after they attempted to withdraw the astronomical sum from the Central Bank on Bainunnah Street in April.
Another defendant, identified as Agha Farzeen Sonali, was charged in his absence. His whereabouts are unknown.
Prosecutors said the case was one of six similar incidents. The similarities in evidence were an indication that all suspects were part of one group or subject to the same scam.
The first incident, prosecutors said, occurred in 2007.
"We all know that anything can affect a country's economy," prosecutors told the court yesterday.
"The purpose of these people was to succeed in their fraud attempt and therefore affect the economy when people know the bank was subject to fraud. So we ask for the toughest punishment against them."
The prosecution said each of the cases involved a defendant claiming he had gone to the bank to inquire about the validity of documents granting him access to funds stored at the bank, and to inquire as to whether the funds existed.
The cases also each involved a defendant acting as a Persian to Arabic translator.
In each instance, Mr Sonali contacted people through a mutual friend and told them he had funds in the bank that he needed them to withdraw, according to court documents. The Central Bank does not hold private funds and deals strictly with other banks.
All those suspected of attempting to withdraw funds in the scheme have been arrested.
Central Bank staff told prosecutors that the documents carried identical stamps and signatures to those of the bank. "Any other banks would be tricked unless they sent them back to the Central Bank," they said.
It was not clear whether Sonali's name is real, an alias or wholly fictional. He has been convicted in the other cases in his absence.
IK told the court that he was a victim of fraud himself. He said that he had a plot of land in Iran and had wanted to build a tourist village.
"I advertised in a newspaper that I was seeking an investor for my land," IK told the court.
He was then contacted by an investor, Sayeed Mohammed Husaini, who offered to finance the project. The investor said he was serving as a middleman for Sonali. The funds withdrawn from the Central Bank were to be used for IK's project, while Mr Husaini would collect one per cent as a personal bonus.
Mr Husaini told IK that Sonali had billions of dirhams in the UAE Central Bank and would provide IK with power of attorney, enabling him to claim the funds, the court heard. IK does not speak Arabic or English.
One of IK's workers in Iran contacted his brother, NB, in Al Ain, and asked him to translate for IK, according to testimony.
IK, who was not represented by an attorney, told the court knew he could not withdraw the funds as he only had copies of the documents, which were faxed to him by Sonali. NB's attorney told the court there was no evidence that he was trying to commit fraud.
"The bank staff, the police investigation and the defendants' confessions to police and public prosecution have included nothing that indicates [NB] was involved in the [fraud] case," Mahmoud al Azmeh, for NB, told the court.
"There is nothing in the UAE law nor in any other law that punishes translators for translation."
IK confirmed NB had only served as the translator. In March this year, Sonali was sentenced in absentia to five years' imprisonment for his part in a separate Dh36bn Central Bank withdrawal scam.
hhassan@thenational.ae
Analysis
Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.
The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement.
We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment.
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
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The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
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Transmission: 6-speed auto
Price: from Dh155,000
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
THE BIG THREE
NOVAK DJOKOVIC
19 grand slam singles titles
Wimbledon: 5 (2011, 14, 15, 18, 19)
French Open: 2 (2016, 21)
US Open: 3 (2011, 15, 18)
Australian Open: 9 (2008, 11, 12, 13, 15, 16, 19, 20, 21)
Prize money: $150m
ROGER FEDERER
20 grand slam singles titles
Wimbledon: 8 (2003, 04, 05, 06, 07, 09, 12, 17)
French Open: 1 (2009)
US Open: 5 (2004, 05, 06, 07, 08)
Australian Open: 6 (2004, 06, 07, 10, 17, 18)
Prize money: $130m
RAFAEL NADAL
20 grand slam singles titles
Wimbledon: 2 (2008, 10)
French Open: 13 (2005, 06, 07, 08, 10, 11, 12, 13, 14, 17, 18, 19, 20)
US Open: 4 (2010, 13, 17, 19)
Australian Open: 1 (2009)
Prize money: $125m
The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
Apple's%20Lockdown%20Mode%20at%20a%20glance
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Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The biog
Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."
Favourite author: Malcom Gladwell
Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."
PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Company%C2%A0profile
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BUNDESLIGA FIXTURES
Friday (All UAE kick-off times)
Borussia Dortmund v Eintracht Frankfurt (11.30pm)
Saturday
Union Berlin v Bayer Leverkusen (6.30pm)
FA Augsburg v SC Freiburg (6.30pm)
RB Leipzig v Werder Bremen (6.30pm)
SC Paderborn v Hertha Berlin (6.30pm)
Hoffenheim v Wolfsburg (6.30pm)
Fortuna Dusseldorf v Borussia Monchengladbach (9.30pm)
Sunday
Cologne v Bayern Munich (6.30pm)
Mainz v FC Schalke (9pm)
The view from The National
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
