Bahraini man jailed for Asian bank shares fraud

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

Email: mail@newsobahrain.com

A sophisticated fraud scheme involving the sale of non-existent shares in an Asian bank has landed a Bahraini man a sixmonth prison sentence.

The perpetrator, a repeat offender, used a pre-existing relationship with his male victim to convince him to invest a substantial BD251,000 in a fictitious financial institution.

He presented meticulously forged documents to support his fraudulent claims, deceiving the victim into believing he was making a sound investment.

The deception only unraveled after the transaction was complete, prompting an investigation.

The Public Prosecution’s case focused on the fraudulent acquisition of funds and the defendant’s creation and use of counterfeit banking documents. The case moved through the Bahraini court system, beginning with the Minor Criminal Court.

Documents

During questioning, the victim stated, “He was very convincing. We’ve known each other for years, and he presented everything so professionally.

The documents looked completely legitimate.” He further added, “I never suspected anything until I tried to verify the investment with the supposed bank in Asia. That’s when I realized it was all a lie.”

This court initially sentenced the defendant to six months in prison, a BD1,000 fine, and ordered the confiscation of the forged documents.

Verdict

The High Criminal Court of Appeal upheld this verdict. A final appeal to the Court of Cassation was unsuccessful, confirming the original sentence.

The defendant will now serve his six-month prison term, a direct consequence of his elaborate and ultimately unsuccessful attempt at financial deception.