A Bahraini man was sentenced to two years behind bars and fined him BD5,000 for swindling BD155,000 out of a GCC national businessman after fooling him by claiming that he could get him a bank guarantee worth euro 50 million from a Swiss bank.
According to court files, the defendant provided his Saudi victim with the bank guarantee, though it was fake.
It’s said that the victim wanted to get a loan from a local bank in 2017 but the banks had a list of demands, including providing a bank guarantee.
As a result, the defendant, in his capacity as the operations manager of an international financial institution, offered the victim his help to get him the required bank guarantee but demanded BD155,000 in return.
“He told me that he would link me with one of the renowned people in Bahrain to get the bank guarantee. I gave him the requested amount and I received the bank guarantee, which was fake.”
The victim informed the accused, who said he would get another bank guarantee.
“However, he never contacted me back and stopped attending my calls,” he added.
Therefore, the Bahraini man was arrested, tried and found guilty for fraud charges.