A Dubai court has ordered nine convicted fraudsters to return AED2.5 million (approximately BD256,000) after they conned a company into purchasing eight fake gold bars.
The gang used forged inspection certificates, a genuine matching sample, and a vehicle with diplomatic licence plates to convince the company’s management to purchase the 22-carat gold bars, each weighing eight kilograms, for AED2.5 million in cash. It was later discovered that the bars were made of silver coated with a thin layer of gold.
The court convicted the individuals of fraud, ordering them to return the full amount alongside a payment of AED400,000 (approximately BD41,000) in compensation.
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