Bogus Tycoon

Court heard Shy Dahan, 33, used false bank documents to dupe staff into thinking he had more than £1million in the bank
He allegedly directed staff to website which boasted he had ‘Midas touch’
Jurors told ‘phony website’ was used to prove his credit worthiness
Court hears Dahan was able to run up debt of £230,000 at casino
Prosecutor Simon Wild said he believes money has now been repaid
Dahan, from Mayfair, denies one count of fraud by false representation
Shy Dahan allegedly used bogus bank paperwork to convince casino staff to give him credit to gamble. He denies one count of fraud by false representation +4
Shy Dahan allegedly used bogus bank paperwork to convince casino staff to give him credit to gamble. He denies one count of fraud by false representation
A businessman pretended to be a real estate tycoon and used bogus bank paperwork in order to gamble huge sums in a Mayfair casino, a court heard today.

Shy Dahan, 33, allegedly used false Credit Suisse documents to mislead club staff into thinking he had more than £1million in the bank.

Southwark Crown Court heard he produced papers from the Gibraltar arm of the bank in a bid to gain credit with the Playboy Club in Mayfair, London.

The global bank had produced a letter for Dahan stating he had liquid assets of £1million after he duped them into believing he was the owner of the successful S Capital Group.

Dahan, from Mayfair, and formerly of Tel Aviv in Israel, denies one count of fraud by false representation.

It is alleged he joined the Park Lane club in November 2012, handed staff his Credit Suisse bank details and referred them to his website to convince them of his credit worthiness.

An article on Dahan’s website claimed he was someone who ‘fulfils his dreams, turning visions into soaring skyscrapers and swarming estates’.

It boasted that Dahan was a ‘unique global entrepreneur’ and a ‘true visionary’ with the ‘Midas touch’.

‘King Midas was a king in Greek mythology, anything he touched turned to gold,’ said Prosecutor Simon Wild.

‘In an email to the Playboy Club, he described himself as being the CEO of S Capital Group, he said he was the CEO and founder of S Capital Group and he referred the Playboy Club to the website.’

But jurors heard the blurb about Dahan, his company and details of ongoing projects was directly lifted from a genuine real estate firm’s website called Canada-Israel.

Mr Wild added the website was ‘designed to big up Mr Dahan and impress anybody that wanted to find out about him to see what a big deal he was, what a big player he was in the real estate business.

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