DUBAI (AFP) – Abu Dhabi police have foiled an attempt by three Iranians to defraud the United Arab Emirates central bank of 14.4 billion dollars, the official WAM news agency reported on Saturday.
Suspected ringleader Farzin Ali Karoryan Mutlaq remains at large in Iran, while two men whose initials were given as E.H.K. and Iranian-American N.A.B. are under arrest, WAM quoted Colonel Hammad Ahmed al-Hammadi, head of the Abu Dhabi police Criminal Investigation Department (CID), as saying.
E.H.K. and N.A.B. allegedly presented fake documents claiming Mutlaq “has property investments worth 14.4 billion dollars and that the amount was transferred to the UAE from Germany through the central bank,” WAM quoted Rashid Mohammed Burasheed, head of the CID’s organised crime unit, as saying.
E.H.K. had power of attorney to receive the money and transfer it to Mutlaq, who is wanted by Interpol, Burasheed said.
Hammadi said that Mutlaq is wanted in connection with similar previous attempts to defraud the central bank.
He added that four failed fraud attempts in the past year would have netted 244.6 billion dirhams (66.65 billion dollars), had they been successful.