Post by Labee on Jun 5, 2009 7:30:59 GMT 4
UAE busts counterfeit money scam
Jun 04, 2009
A gang of four have been arrested on money counterfeiting charges and fraud after UAE police seized $17 million in forged bank notes.
The arrests were made after an Emirati man in the eastern emirate of Ras Al Khaimah was offered 10 million dirhams ($2.72 million) by the gang to exchange $20 million in counterfeit cash into dirhams, UAE daily Gulf News reported on Thursday.
A man and his wife were arrested following a police surveillance operation. They confessed to the offences. Police then named two others involved in the scam, who were later arrested.
The newspaper did not say when the operation took place.
During initial raids, police seized $17 million in counterfeit cash.
The case has been referred to public prosecutors.
Jun 04, 2009
A gang of four have been arrested on money counterfeiting charges and fraud after UAE police seized $17 million in forged bank notes.
The arrests were made after an Emirati man in the eastern emirate of Ras Al Khaimah was offered 10 million dirhams ($2.72 million) by the gang to exchange $20 million in counterfeit cash into dirhams, UAE daily Gulf News reported on Thursday.
A man and his wife were arrested following a police surveillance operation. They confessed to the offences. Police then named two others involved in the scam, who were later arrested.
The newspaper did not say when the operation took place.
During initial raids, police seized $17 million in counterfeit cash.
The case has been referred to public prosecutors.