Al-Ain court dismissed the case

A man invests in cryptocurrencies and demands a refund from the broker

The court was satisfied with the report of the delegated expert.

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Al Ain Court of First Instance rejected a lawsuit filed by a man against a broker, who demanded that he be obligated to return 251,600 dirhams, which he transferred to his account after he deceived him and deceived him into investing the amount in trading digital currencies and stocks.

In the details, a man filed a lawsuit demanding that the defendant return 251,600 dirhams to him, and 30,000 dirhams in compensation for material and moral damage, noting that in 2017, the defendant accused him of working in a trading company with digital currencies and stocks, and he was offered to work in this The project, in return for large profits, and in good faith, deposited the amount of the claim in the defendant’s account, but the defendant did not fulfill his obligation, and did not return the amount, while the defendant submitted a reply memorandum, at the end of which he stated that the court had no qualitative jurisdiction to consider the dispute and referred it in its case to the competent court.

The plaintiff brought two proof witnesses, and the court listened to them, where the first testified after taking the legal oath that the plaintiff deposited 251 thousand and 600 dirhams in the defendant’s account, on the basis of profits and shares, and then it turned out that the company was fictitious, explaining that he was not present and the plaintiff told him that he would withdraw An amount to be handed over to the defendant, who works as an employee in a stock and dividend company.

The second testified that the plaintiff deposited 251,600 dirhams into the defendant's account, explaining that he had obtained his information from the plaintiff.

While the report of the expert delegated by the court showed that the plaintiff deposited 251 thousand and 600 dirhams in the defendant’s account, and according to the plaintiff’s statement that the amount was deposited to invest in a company that manages cryptocurrency shares, and there is a certificate written on the company’s papers that the amount was deposited in the defendant’s account, stating That the plaintiff owns 40,000 shares of the company's shares, and the value of these shares is $68, 000, equivalent to the amount deposited in the defendant's account.

The report pointed out the absence of a written agreement between the plaintiff and the defendant, clarifying the rights and obligations of the two parties regarding the amount in question, and it was found by experience that the investment agreement was sent by the company to the plaintiff through e-mail.

The court stated that what is confirmed from the report of the delegated expert, which the court is assured of, is that the experience did not show the existence of a written agreement between the plaintiff and the defendant, clarifying the rights and obligations of the two parties regarding the amount in question, and the investment agreement was sent by a company to the plaintiff, through e-mail, The transferred amount was deposited for investment in the company, and the latter issued a certificate stating that the plaintiff owns 40,000 shares of the company's shares, equivalent to the amount deposited in the defendant's account.

The court did not prove to the defendant the preoccupation of the defendant with any sums in favor of the plaintiff, the matter with which the lawsuit is based on an incorrect document of fact and law, and it ruled to reject the lawsuit in accordance with the reasons stated.

The delegated expert's report confirmed the existence of an investment agreement sent by the company via e-mail. 

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