Herald: My son is not guilty, says father of multi-million dollar fraud convict
Herald News

My son is not guilty, says father of multi-million dollar fraud convict

13 Apr 2018 05:25am IST

Report by
BASURI DESAI

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13 Apr 2018 05:25am IST

Report by
BASURI DESAI

Claims he invested in the company; Says if his son was a conspirator then wouldn’t have invested in it

SIOLIM: Martires D’Souza, father of Ryan D’Souza, said his son is not guilty in the multi-million-dollar fraud in UAE (United Arab Emirates) and questioned that if he was a conspirator along with Sydney Lemos, then he wouldn’t have invested in the firm.

D’Souza, a resident of Siolim, told Herald that he transferred money from Goa to his son’s account in UAE which was later invested in Exential, a forex trading company in Dubai Media City. 

“If my son was aware the company is a fraud then he would have advised us not to invest our hard earned money in Exential. I feel my son has been trapped in the case,” he said. 

Sydney Lemos, from Mapusa, was the senior accounts specialist of Exential, a forex trading company. Investors lost over USD 200 million when Exential failed to pay out after promising 120 percent returns on USD 25,000 (Dirham 91,800) investment.

Lemos, his wife Valany and Ryan D’Souza were convicted on April 8, by the Dubai Misdemeanours Court in 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, media in Gulf reported.

Ryan’s father said that his son had worked as a senior accounts specialist with Exential for four months before the company was sealed by the Department of Economic Development in UAE. He said that Ryan joined the company on June 13, 2014 as per the contract and till February 5, 2016 he was working as an administrator for the company.

According to the father, Ryan was promoted to senior accounts specialist in March 2016 and in June 2016 the company was sealed. 

“My son is a footballer, he played for FC Calangute, FC Marna, FC Siolim. He was picked by Lemos to play for his team FC Bardez in Dubai,” D’Souza said. He said that Ryan’s visa documents state that he was offered a job as Office Clerks General.

“We are now looking for a lawyer in Dubai to appeal the judgement and we will also seek the intervention of the Union Minister for External Affairs, as my son is not guilty, he is an innocent. The offence has been committed by the employer not by Ryan,” the father said. 

The father said that Ryan is a graduate in Business Administration (Travel and Tourism) and was not qualified to be an accountant.  

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