(MENAFN- Khaleej Times) The winning bidder beat several rivals for the coveted plate after the auction started at Dh1 million A businessman who issued a dud cheque of Dh31 million at an auction for the No 1 Abu Dhabi number plate has gone on trial.
The Abu Dhabi Criminal Court heard that the 32-year-old Emirati bought the plate in November last year at the auction at Emirates Palace Hotel.
Abu Dhabi number 1 car licence plate auctioned
The Abu Dhabi public funds prosecution charged him with fraud and knowingly writing a bad cheque.
Official documents stated that the auction organisers had filed a complaint that the man issued them a cheque, but didn't have enough money in his bank to cover the whopping amount.
Prosecutors said that during questioning, the businessman admitted to handing over the cheque knowing that he did not have the funds in the bank to clear it.
Bidder of Dh31m number plate arrested for fraud
'He said he was planning to sell the rare number plate at a profit so that he can pay the amount to the organisers,' said a prosecutor.
In court, the man admitted to issuing a bounced cheque.
Authorities said a person can re-sell a number plate bought in an auction only after he has paid the full amount and that any resale before that is considered illegal.
The auction, which generated Dh99 million, was hosted by Emirates Auction in cooperation with Abu Dhabi Police on November 19 at Emirates Palace Hotel to commemorate the Abu Dhabi Government's Golden Jubilee.
The winning bidder beat several rivals for the coveted plate after the auction started at Dh1 million.
The trial has been adjourned to a future date.
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