Dubai: Five Men Jailed, Fined up to Dh10,145 in Online Investment Fraud

A Dubai Misdemeanour Court has convicted five men for defrauding several people through an online investment scheme. They were sentenced to jail, ordered to pay fines, and will be deported.

According to court records, the defendants targeted unsuspecting victims on the internet, persuading them to invest in fictitious projects. Prosecutors said the group promised high returns, convincing individuals to transfer money under the impression that their funds would generate profits.

After reviewing the evidence, the court sentenced each of the five men to one month in jail and ordered their deportation from the UAE after completing their sentences. The fines varied according to the sums unlawfully obtained. The first and third defendants were each fined Dh10,145, the second Dh6,644, while the fourth and fifth received fines of Dh500 and Dh300 respectively. A sixth man tried in connection with the case was acquitted for lack of evidence.

The verdict underscores the vigilance of UAE courts in tackling cyber fraud and investment scams. Legal experts note that even relatively small cases face strict penalties, including prison terms and deportation, to deter others from exploiting digital platforms for unlawful gain.

Authorities have repeatedly warned residents to remain wary of online offers promising quick profits or guaranteed returns, urging the public to verify the legitimacy of financial schemes before transferring money. Officials stressed that individuals should exercise due diligence and report suspicious activity, reminding them that if an investment deal sounds too good to be true, it probably is.