Two Arabs are now in jail and have been fined Dh200,000 for exchanging people’s money with fake dollars in a scam on social media.
The Dubai Criminal Court sentenced them to one year in jail for deception and possession of counterfeit currency. They will be deported after serving their jail term.
According to records, the duo published their ads on Facebook for currency trading that promised a bigger exchange rate.
A police investigation was launched, and a policeman posing as a buyer then contacted the duo through the number indicated in their ad.
They reached an agreement to exchange Dh10,000 for $5,000 and met at the specified location to finalize the deal. It was then that the first suspect was arrested. He was found in possession of fake dollars.
During interrogation, he denied counterfeiting money, and said he worked for another person to hand over and receive cash.
He also pointed police to the second suspect, who was arrested at his residence. Police seized $50 in counterfeit notes in his possession. The second suspect confessed that the duo targeted victims on social media. ICA/Expat Media
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