A woman in the UAE has been convicted of defrauding an Arab man out of Dh200,000 (BD20,477) which she received from him to buy digital currency.
The Asian woman has also been fined Dh20,000 by the Dubai Misdemeanour and Infractions Court.
The incident was brought to light in 2021 when the Arab investor reported that he had met a woman who claimed to be selling Bitcoin, to whom he had expressed interest in terms of investment.
He said that he had visited the woman's office and given her Dh200,000 in exchange of Bitcoin.
The man claimed that he had kept waiting for a notification regarding the deal for two days, and when he did not receive it, he realised he had been defrauded and lodged a complaint.
During investigations, the woman said she had been given the money to buy local currency and that she had completed the transaction and sent the money to an account in her country.
The woman was unable to prove her claim and was referred to the court for fraud and breach of trust.