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MENAFN - Khaleej Times - 07/04/2014
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(MENAFN - Khaleej Times) According to prosecution records the defendant embezzled dh1012800 from a customer?s account at the bank in july 2010 and fled the country shortly after

A bank’s financial manager has been sentenced in absentia to five years in prison for embezzling more than dh1 million from his workplace. he will be deported after serving his jail term.

The court of first instance also ordered the 41-year-old palestinian to repay dh201000 to the bank and settle the lawyer fees of dh500.

According to prosecution records the defendant embezzled dh1012800 from a customer’s account at the bank in july 2010 and fled the country shortly after.

He managed to withdraw the money from that account by issuing five cheques worth dh1012800 n his name and then depositing them in five different accounts in other banks.

A section head at the bank said that the fraud was discovered when an audit was run on the defendant’s work. “we questioned his behaviour as he started to abscond from work without taking leave. we had an audit team of experts go through the transactions he carried out and they found out about the embezzlement.” as the accused was unreachable and his mobile phone constantly switched off he was reported to the police.

It was known that the accused fled the country after he withdrew the money from the accounts he had opened in different banks.

An internal auditor at the bank said the accused had the power to clear cheques.



Khaleej Times

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