Executive convicted of Dh8.5m fraud.
Records said the Jordanian defendant, B.H, 46, signed a contractual agreement with the Emirates Post Holding Group to construct and maintain four offices for the company in February 2008.
B.H. was charged with dishonouring the agreement by using 10 forged letters of credit from a local bank to siphon off Dh8.5 million and leaving the country in October 2009.
The Dubai Court of First Instance sentenced the defendant in absentia on Thursday.
Presiding judge Ali Attiyah Sa'ad ordered that B.H. be deported after serving his sentence.
The Public Funds Prosecution charged the defendant with committing fraud with a public department, forging unofficial documents and using them.
Chief Prosecutor Esmail Madani charged the defendant of intentionally dishonoring the contractual agreement and failing to execute it properly. The defendant, according to the agreement, was supposed to construct four post offices in different areas within a period of 11 months and maintain the buildings at a total cost of Dh37.9 million.
B.H. furnished 10 letters of credit ostensibly issued by a local bank to support the agreement, which he signed on behalf of the contracting company in his capacity as a director. The letters of credit were subject to liquidation in case the company violated the agreement.
An Emirati legal researcher at Emirates Post Holding Group said the forgery was detected when the contracting company failed to execute the agreement. "The company constructed nearly 90 per cent of the [work as per the] agreement. They failed to hand over the offices as agreed upon, the defendant also vanished. So the Group pulled out from the agreement and submitted the letters of credit to the bank to have them liquidated. The bank informed the Group that the letters were forged. The signatures were forged. The bank's stamp was also forged."
The Emirates Post Holding Group reported the matter to the police.
Prosecution records said the defendant left the country on November 5, 2009.
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