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2 robbed of Dh7 million in bitcoin scam


DUBAI – Two Indian brothers lost Dh7 million after falling for a bitcoin scam orchestrated by eleven men in Dubai, the Dubai court heard.

Four of the suspects appeared in court on Tuesday to face charges against them.

“We did steal the money but without coercion or threat … and we didn’t use any weapon,” an Emirati suspect told the court. He is one of 11 charged in the case, including six Pakistanis, two Bangladeshis, a Yemeni and a man with no citizenship.

Prosecutors accused the group of luring the brothers into an apartment where they threatened to kill them before taking their Dh7 million in cash as well as mobile phones.

According to records, the Indian brothers came across a bitcoin broker in Dubai in April an agreed to buy 200 bitcoins for Dh7 million.

The brothers and their Indian friend met the broker and his two accomplices in Al Khubaisi area were they were supposed to finalise the deal.

After they agreed on a price, the group headed to an apartment of a nearby building to conclude the deal but after they entered inside, four other men stormed into the apartment and identified themselves as policemen.

They told the brothers that the deal was illegal, and when the duo suggested that they head to the police station, they were assaulted by men in the room.

“They threatened us with razors … when they left, we reported the matter to the police,” one of the brothers testified.

Following an investigation, the police identified the 11 suspects and apprehended them. They also seized nearly Dh3.7 million of stolen money. GAD/Expat Media


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