Dubai: The Dubai Court of Appeal has upheld a verdict against a gang that lured a Bitcoin investor and robbed him of Dh3.7 million in a fake cryptocurrency deal.
The gang of five defendants has been sentenced to three years in jail to be followed by deportation. They were also fined Dh3.7 million.
According to official records, the businessman was scammed by the first defendant who lured him to a villa in Al Barsha area in Dubai to buy cryptocurrency, before attacking him with others, who are still at large, and stealing Dh3 million and two watches worth Dh750,000.
“I found a card on my car about sale of Bitcoins at a rate that was cheaper than the market rate. I called the number on the card and made a deal with them to buy cryptocurrency. They asked me to come to a villa in Al Barsha with the money,” said the businessman on record.
Abducted by masked men
He went inside the villa to pay the money and transfer the Bitcoin to his crypto account. As the money was being counted, three other defendants raided the place wearing PPE and masks, posing as policemen from his home country.
“I was told that they will take me back to my country. They tied my hands, covered my eyes and took me to a car after stealing the money,” said the victim in officials records.
He was taken to Fujairah and stayed in a car for four hours before they moved him to another vehicle.
Another defendant in the second vehicle took the businessman’s expensive watch and dropped him back in Dubai without assaulting him.
The businessman managed to escape and reported the incident to Dubai Police.
The two defendants were arrested and charged with abduction and stealing the victim’s money. Others are still at large.
