Abu Dhabi Police foil $14 bn bank fraud
By IANSSunday, June 6, 2010
Abu Dhabi, June 6 (IANS/WAM) The Abu Dhabi Police and the United Arab Emirates (UAE) Central Bank have foiled a fraud attempt worth 52.7 billion dirhams ($14.4 billion) directed at the bank.
Farzin Ali Karoryan Mutlaq, an Iranian and one of the suspects detained by police, tried to cheat the Central Bank by submitting fake documents claiming the money was transferred to the UAE from Germany.
Mutlaq said Saturday that he acquired the money from family investments.
Col. Hammad Ahmed Al Hammadi, director of the Criminal Investigation Department (CID), said Interpol wants Mutlaq in other cases.
–IANS/WAM
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