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Abu Dhabi Police Foil Bank Fraud Plan

Abu Dhabi, UAE : 06 June 2010

Abu Dhabi police have averted another attempt to commit bank fraud, resulting in the arrest of two people who attempted to withdraw over $14billion out of the UAE Central Bank, using false documentation.

Director of the Criminal Investigation Department in Abu Dhabi police, Colonel Hammad Ahmed Al Hammadi, said the man behind the plan to defraud the bank is Iranian, Farzin Ali Karoryan Mutlaq, who has already attempted three previous frauds on the UAE Central Bank and is now wanted as an international criminal.

Two suspects have been arrested aged 47 and 49 years.  Both are Iranian, one a US resident.  They are believed to have entered the UAE on mission visas. 

Al Hammadi credited the cooperation between Abu Dhabi’s CID and the Anti Money Laundering and Suspicion Cases Unit for the success in foiling the plan.

Andrew Reid, Staff Writer, Gulf Jobs Market News
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