UAE: Scammers steal over Dh224,000 from resident in crypto investment fraud
A group of fraudsters scammed an African man out of Dh224,239 after luring him with promises of high profits from cryptocurrency investments.
According to a report published by local media outlet Emarat Al Youm, the African man, who resides in Dubai, filed a civil claim against an Asian national, demanding Dh224,239 in lost funds, Dh100,000 in compensation, and coverage of legal fees.
The victim explained that in April of the previous year, he received several messages from a fake company promoting massive returns through cryptocurrency trading. After being convinced during a series of conversations, he began sending varying amounts of money to multiple bank accounts provided by the scammers, one of which belonged to a Dubai resident. In total, he transferred Dh224,239.
He later reported the incident to the police, who arrested the account holder and secured a conviction.
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The victim then pursued a civil lawsuit against the convicted man. The civil court ordered the defendant to pay Dh244,239 — an amount that includes the original sum lost and an additional Dh20,000 in compensation for emotional and material damages.
Dubai Police arrested the account holder, who was later charged and found guilty of hiding funds obtained through illegal activity. The criminal court sentenced him to one month in jail, fined him, and ordered his deportation.
The civil court, in its ruling, explained that under UAE law, a criminal court's decision is binding in civil cases when the same actions form the basis of both cases. Therefore, the guilty verdict established the defendant's civil liability, as the criminal behavior was directly tied to the financial loss.
The court also cited the UAE Civil Transactions Law, which holds anyone who causes harm to another whether physical, financial, or emotional, liable for compensation. After reviewing the case, the court awarded Dh20,000 for non-material damages in addition to the stolen amount, bringing the total compensation to Dh244,239.
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