An Indian company manager has been accused of siphoning off million for himself from company funds.
The company manager had been left in charge by the owner and tasked with running the business.
The 58-year-old Indian national heading the firm which installed electrics in high-rise buildings.
He was left in-charge as the owner was frequently away in India and the UK.
Dubai Court of First Instance was told he betrayed the trust of the Indian owner, 53, despite the men having known each other since college.
The defendant denied the embezzlement charges in court.
According to a report in UAE-based daily newspaper, 7 days, the owner testified: “I gave him absolute power but later some of my employees told me that I needed check what was going on within the company. They said something had been going on without my knowledge.”
He said he came across an agreement that the defendant had made with his co-defendants to establish another company.
He said: “I knew that he came from an average family and didn’t have the money to become a partner in any company.”
The owner then discovered that millions of dirhams had been transferred from his company’s account to the defendant’s new company.
He said: “He was signing contracts with our customers and the funds were going to his new company. Then he used my company resources to do the work. I challenged him with the facts face to face and he confessed.”
The defendant’s alleged accomplices, one Indian and one British, have also pleaded not guilty. The trial has been adjourned.