Saturday: 05 June 2010:
ADP and the Central bank foil $14.4b fraud attempt
For the fourth time in less than a year, Abu Dhabi Police and the UAE Central Bank have foiled an attempt to fraud $14.4b (Dh 52.776 billion), according to an statement made by Colonel Hammad Ahmed Al Hamadi, Director of the Criminal Investigation Department (CID). He ahs affirmed that the crime planner is the same "Chief" who stays in his home land and who is wanted internationally by the Interpol.
The total number of fraud attempts against the Central Bank was four all made by an Iranian suspect Farzeen Ali Karoryan Mutlaq, who claimed that he had acquired the funds from family investments from his forefather. They were in US dollars and euros, equal to Dh244 billion and Dh609 million. In the same context ADP has warned the public not to deal with Mutlaq and to report him whenever they spot him.
Colonel Al Hamadi said "The cooperation between ADP CID and the Money Laundering Unit at the Central Bank, in addition to the quick reporting of the forged documents and the swift response the police, led to the arrest of two individuals. One of them entered the country recently with a mission visa, an Iranian, identified as (E.H.K), 49 and the other 47 year old, American resident of Iranian origin, identified as (N.A.B.)".
Colonel (Dr.) Rashid Mohammad Bu Rasheed, Head of the Organized Crime Section at ADP CID said "Both suspects involved in fraud attempt by presenting forged documents to the Central Bank claiming that the 'Chief' Mutlaq owned investments in properties worth $14billion and $400 million. The amount was transferred from Germany to Iran through the UAE Central Bank. The Iranian suspect (E.H.K.) also had Power of Attorney authorizing him to receive the imaginary sum and transfer it to Mutlaq to finance his imaginary trade project in his home country".
"This is the Mutlaq fourth attempt to commit fraud. He is wanted by Interpol for his attempts to fraud the UAE Central Bank, and two forgery crimes of an official document and attempt to take sums of money by use of the forged document", added Bu Rasheed.
"The two suspects are under investigation by the police. The first suspect has admitted that he received from the 'Chief', at their home country, the documents he submitted to the bank. But he did not know they were forged. He did not want to collect the money but he wanted the bank to check he authenticity of the document. He was introduced to Mutlaq as an investor who is capable of financing property and consultancy projects. The American suspect denied the accusation and said that he was only a translator", added Bu Rasheed.
Colonel (Dr.) Bu Rasheed described Mutlaq move as 'stupid' because the Central Bank is a government entity that only deals with government departments and financial institutions and the sum involved have never come to the bank.
"Fraud attempts are the most dangerous crimes in the country as the affect development plans of the country. As the UAU has become the center of attraction for foreign and local investors, many gangs specialized in fraud processes are existed in the country. But ADP will remain vigilant and will foil any such attempts due to the technological and professional development that the CID witnesses nowadays", added Bu Rasheed.
The Director of the CID has lauded the Money Laundry Unit at the Central Bank for
