DIFFERENT ANGLE by Kenneth Rijock
An unidentified American described as a business consultant, and alleged by the police as having laundered $500m through local financial institutions, is being held by police in Dubai, reportedly as part of a criminal organisation composed of Europeans, Americans and Asians but no local UAE citizens. Authorities have reported that the organisation laundered vast sums, using corrupt financial institution staff, who were paid illicit commissions for their roles in moving the funds.
Though he has only been identified by the letters ED, which could be either his first name, or his initials, he has been reported as being 37 years old, and was arrested on 18 February, together with several other individuals.
The Central Bank of the UAE has notified all local banks and exchange houses to freeze all accounts of those arrested, as well as accounts held in the names of nine corporations, also unidentified thus far, linked to the organisation.
Whilst only minimal details have been released to date, the Dubai Police was assisted by the General Administration for Search and Criminal Investigations, and the Anti-money Laundering and Suspicious case Unit of the Central Bank.
The Mystery American is seeking release on bail, but remains in police custody. One other defendant has been released. None of those arrested has been named. World-Check will issue a follow-up article as soon as identification of the suspects has been made public.
The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.
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