(MENAFN- Khaleej Times) The Sharjah Police, on Monday, arrested a 43-year-old Indian national who allegedly tried to get Dh540 million loan from a local bank with a forged guarantee certificate of $200 million deposit in a branch of an international bank in Manila.
The police received information from a local bank management about the Indian man who approached the bank for the loan presenting forged documents.
The police, in coordination with the bank management, contacted the bank in Manila and found out that all the documents provided by the suspect were forged.
The police launched an investigation and arrested the suspect from a hotel in Sharjah.
According to police sources, the suspect confessed to the crime. However, the police are looking into the chances of the involvement of a gang network in the act.
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