Fraudster Sydney Lemos to appeal against 500-year sentence for Dubai scam
June 4, 2018
Staff Report
Fraudster Sydney Lemos to appeal against 500-year sentence for Dubai scam
DUBAI - Fraudster Sydney Lemos has reportedly launched an appeal against his sentence of 500 years in jail for his role in a $200 million exchange scam in the UAE.
Lemos has reportedly initiated an appeal against his jail term for his role in the Exential Ponzi scam that victimised hundreds of people in the country.
The appeal came as investigators urged victims to submit official legal claims and evidence of lost investments to help them recover missing funds.
Filipino churchgoers and Emirates cabin crew were among those who lost their money to the scam.
Meanwhile, legal advocate Wilbur Menezes told the Times of India that Lemos did not commit a criminal act, but a civil wrong.
“Sydney Lemos was running a legitimate forex trading business wherein customers knew the risks involved, in furtherance of which they entered into agreements," he told the newspaper.
"At the most, the actions may make out a civil wrong for contractual breach."
Lemos was jailed in April after he was found guilty in more than 500 criminal cases. His wive, Valany, left Dubai for Goa in 2016. GAD/Expat Media
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