Abu Dhabi police foil $42bn bank robbery

Swindlers attempt to extort money from UAE Central Bank using forged documents and bogus claims.
Abu Dhabi police foil $42bn bank robbery
By Rob Corder
Mon 20 Jul 2009 01:41 AM

An extraordinary bank robbery came to light on Sunday when Abu Dhabi police revealed attempts to swindle AED153.9billion ($42 billion) from the UAE Central Bank.

Director of Criminal Investigation Department at Abu Dhabi Police, Brigadier Maktoum Al Sharifi, described how two attempts were made to withdraw colossal sums of money from the Central Bank using forged documents and bizarre cover stories.

In the first incident three suspects, including the branch manager of a bank in the UAE, produced forged documents that they claimed proved that the UAE Central Bank owed a total amount of AED52.7bn ($14.4bn) to their 'Leader', who hails from a neighbouring country.

In a second attempt, which took place 39 days later, two other suspects, a tourist and a resident investor, appeared with a new set of forged documents demanding to withdraw AED101.2bn ($27.5bn). They again claimed the UAE Central Bank owed to the money to their 'Leader' who had inherited the wealth from his grandparents.

The Police were called and the suspects were arrested, said Brigadier Al Sharifi.

Though the two incidents took place a few weeks apart, the primary investigation suggested that both attempts were masterminded by the same sixth person, named as A.F.K by official UAE news agency WAM.

A.F.K. is said to live in an unnamed neighbouring country, according to WAM.

Chief of the Organised Crimes combating section at the Abu Dhabi Police, Lieutenant Colonel Rashid Mohammed Bu Rashid, revealed that the Police arrested the suspects after the Central Bank forwarded the documents, which the police found were forged.

No further details were given.

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