3 Indians sentenced to 517-yr jail term in fraud case in UAE
Dubai: Two Indian men and a woman have been sentenced to 517 years each in jail by a Dubai court in a multi-million-dollar fraud case. Sydney Lemos, from north Goa, was the chief executive of Exential, a forex trading company in Dubai Media City. Investors lost over $200 million when Exential failed to pay out after promising 120% returns. The accused — Lemos, his wife Valany and Ryan D'Souza — were convicted by the Dubai Misdemeanours Court in the 515 cases filed against them and were sentenced to one year in jail each in 513 cases and two years in jail for the remaining two cases, Gulf News reported. PTI
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