Dubai Court Orders Man to Repay Dh118,000 in Failed Currency Exchange Deal
Court documents show that the trader, who needed U.S. dollars to pay Canadian suppliers, entrusted Dh117,913 to the defendant. The man had assured that the funds would be instantly converted through his local bank accounts.
Instead of transferring the money, the defendant allegedly stalled and tried to reassure the trader with a photo of himself depositing cash at an ATM. However, the promised transfer never came through, leaving the trader unable to meet supplier deadlines.
To maintain his business relationship, the trader paid his supplier again out of his own pocket and later pursued legal action in Dubai. Despite WhatsApp messages, invoices, and other evidence submitted, the defendant failed to appear in court or prove repayment.
The court applied the UAE Civil Transactions Law, which requires anyone who unlawfully takes money to return it, ruling in favor of the trader and ordering repayment plus damages. The trader's larger claim of Dh100,000 in psychological and material harm was denied.
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