Fraudulant Indian businessman dupes UAE residents of Dhs 1.5 million

Dubai, Aug 25 (UNI) More than a year after an Indian businessman escaped with over Dhs 1.5million (40,838 USD) from the UAE, dozens of residents here continue to wait for their money.

Five cases are registered with the local police against Ponnuswamy Gunashekaran from Tamil Nadu, who allegedly borrowed Dhs 889,000 from 23 people, including friends, saying he wanted to build a supermarket in India.

In October 2005, the sessions court in Dubai decided in absentia to punish the accused with three months imprisonment. But unless Gunashekaran arrives from India no action can be taken against him.

Although the Dubai police had informed Interpol a year ago about the wanted man, Gunashekaran continues to live freely in India according to the claims of few victims, press reports said.

Guna had promised to repay his investors within two months but the cheques he gave them bounced back.

He also allegedly embezzled at least Dhs 675,000 from a savings fund in April last year.

Guna had been living in the UAE for more than 20 years and is said to have started his career as a barber.

UNI PDM HT1952