Saturday : 28 August 2010 :
Abu Dhabi Police catches an African man promoting One Million USD Notes
Abu Dhabi Police has arrested an African man for violating the residency law, and promoting two souvenir USD 1 million, restricted to World Millionaires Club Members as a souvenir. However, the notes have no monetary value, and he attempted to trick a foreign woman.
The crime has been revealed by Colonel Hamad Ahmed Al Hamadi, Director of ADP Criminal Investigation Department (CID). He said “The man, identified as “K.A.B.”, 44 from Ivory Coast convinced the woman that the notes are being used in the currency market and has asked her to exchange them in return for 30% of their value. The woman has presented the notes to the Central bank to verify their authenticity”
“The Counter Money Laundering and Suspicious Cases Unit at the Central Bank saw that they are not used on the currency markets in USA. They are issued by the USA-based World Millionaires Club and are strictly given to the Club members. A small quantity of these notes is sold for a nominal prices to currency collectors. They are of no value”, added Al Hamadi.
Colonel (Dr.) Rashid Mohammad Bu Rasheed, Head of the Organized Crime Section at ADP CID lauded the efforts of Counter Money Laundering and Suspicious Cases Unit at the Central Bank and its cooperation with ADP.
He has detailed the crime as follows “The criminal attempt has started when the suspect has arranged an appointment with the woman at one of the hotels. He has convinced her that he has two notes each one of them equals USD 1 million, sent to him by a friend living in Belgium, and he wants to cash them against 30% of their value, because he is bankrupt and has no money for his expenses”.
“The suspect has found in the woman an easy target. The notes are printed in an a way that anyone sees them will believe they are genuine. The woman has taken the note to the Central bank to verify their authenticity. She has told the bank staff that the suspect would receive 154 additional notes of the same category, and that he needs a client to cash them”, added Bu Rasheed.
“The suspect was arrested following a well planed sting operation. He admitted his crime claiming that he is a mere mediator for a diamond, gold and currency trader in Belguim, identified as D.G.M., who asked him to exchange the notes for money. He is supposed to wait for another 154 notes if the two notes are cashed by the woman. He said he did his job in good-will and that he did not know that the notes had no value”, added Bu Rasheed.
The World Millionaires Club has printed these million dollar notes for its members. They are souvenirs only. But these notes found their way to a group of fraudsters in foreign markets. Those who go to USA have fallen foul of the trick and have rushed to buy them for prices varying between 50 and 100 thousand US Dollars.
The Federal Penal law punishes fraud with imprisonment or a fine and fraud attempt with imprisonment for a period not more than two years or a fine of not more than Dh20 thousan