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Man who bid Dhs31m for Abu Dhabi number plate arrested for fraud

Man who bid Dhs31m for Abu Dhabi number plate arrested for fraud

The bidder was charged with fraud after his cheque for Dhs31m bounced

The Emirati businessman who bought the car plate Number 1 for Dhs31m at a recent auction in Abu Dhabi has been charged with fraud, local media reported.

The Abu Dhabi Public Prosecution charged the man with fraud and sentenced him to seven days in custody after his cheque for the Dhs31m bounced.

When interrogated, the man allegedly admitted that he did not have sufficient funds in his account when he issued the cheque. He claimed he was planning to sell the number plate for a higher amount and pay the Dhs31m from the sale.

The public prosecution accused him of duping auction organiser Emirates Auction by issuing a dud cheque.

It also said that under Emirates Auction’s regulations, asset ownership cannot be transferred to others unless the amount is completely paid off by the bidder.

Also read: Video: Abu Dhabi Number 1 car plate sells for Dhs31m

The accused bought the limited edition Abu Dhabi Number 1 car licence plate at a special auction held on November 19. He told local reporters at the time that he bought it in honour of the country’s rulers.

The vanity number plate auction was hosted by Emirates Auction along with Abu Dhabi Police and was held to commemorate the Abu Dhabi government’s golden jubilee.

In total, the auction featured 50 number plates and saw sales of over Dhs99m.

Read: Video: Dubai businessman pays nearly $9m for a number plate

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