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Abu Dhabi Police, UAE Central Bank Foil Fraud Worth US$14.4 Billion |
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Abu Dhabi Police and the UAE Central Bank have foiled for the fourth time consecutively in one year the fraud attempt worth USS14.4 billion (AED52. 776 billion) against a bank. Col. Hammad Ahmed Al Hammadi, director of the Criminal Investigation Department (CID) at Abu Dhabi Police, said that a suspect in this case was the same internationally wanted suspect in connection with similar previous cases, adding that he is residing in his home country. The amounts of alleged in four separate fraud crimes touch AED244.609 billion. The suspect Farzin Ali Karoryan Mutlaq, Iranian, claimed that he had acquired the amounts directly from the family investments as he had inherited them from forefathers. Abu Dhabi Police have warned those who deal with the suspect locally or international . Hammadi said the cooperation between the CID and the Anti Money Laundering Unit and Suspicious Cases at the UAE Central Bank and quick report to the unit about suspects, led to the arrest of two suspects, identified E.H.K, 49, Iranian and N.A.B, 47, American from Iranian origin, who entered into the country with mission visas. For his part, Dr. Rashid Mohammed Burasheed, head of the Organised Crime at the CID, Abu Dhabi Police, said the two suspects collaborated to con the UAE Central Bank through submission of fake documents in which they claimed the alleged gang ring leader Mutlaq has property investments worth $14.4 billion and that the amount was transferred to the UAE from Germany through the central bank. He noted that the accused E.H.K, Iranian had a power of attorney to receive the alleged money and then transferred it to the ring leader, who is wanted by the Interpol. |
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