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Sun 4 Aug 2013 09:57 AM

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Qatar businessman to face US fraud charges

Abdulla Al Jufairi has pleaded not guilty to allegedly scamming the federal government of millions of dollars

Qatar businessman to face US fraud charges

A Qatar businessman is to face trial on allegations he defrauded the US government of millions of dollars in a series of failed deals nearly a decade ago, it was reported.

Abdulla Al Jufairi returned to the US last month and last week pleaded not guilty in a federal court in Detroit to allegations he participated in a fraudulent loan scheme to acquire government funding to buy a series of petrol stations, according to a report by The Detroit News.

He left the US in 2006 before a federal grand jury issued indictments charging him with defrauding the Washington government of around $26m.

Arriving in the Middle East, he launched a number of projects, including an office block development on The Pearl-Qatar. He managed to attract millions of dollars in investment and loans but these too soon ran into trouble, according to the report.

A British investment house is also suing Al Jufairi for $75m for unpaid loans, while a Kuwaiti investment company is owed around $40m relating to failed land projects and development deals in Qatar.

One US investor owned money from a failed project in Michigan reportedly pursued Al Jufairi to the UAE and was awarded more than $650,000 by a Dubai court, the report said.

"His schemes have grown to a grand scale," Donald A. Jordan, an attorney and former associate of Al Jufairi was quoted as saying. Jordan moved to Qatar to work with Al Jufairi on his projects but has since distanced himself from the failed deals.

A US court has issued him with bail of $50,000 and ordered him to surrender his passport. A court date will be assigned in due course.

 

Expat08 6 years ago

@shane:

"One US investor owned money" -> one investor owed money

zidan Jwihan 5 years ago

Abdullah Al- Jufairi seems to be a genius person, and not a criminal.Therefore, he shouldn't be indicted for mistakes some other greedy multi millionaires have committed. For example, if Mr. Al-Jufairi convinces a bussiness man to share his property, which is worth millions of US$s, without even paying a single penny for that original owner, Al-Jufairi is not to blame for this business man's grave mistake. And, in fact, he can claim the property he owns a 50% share in it, .. By all means, Al- Jufairi's return to the USA willingly and showing in court shows that he is an honest person and should be rendered innocent of all the financial accusations he has been invoved in so far. It is no wonder that the super rich, but greedy, should be held accountable for for their mistakes when they have to deal with smart investors such as Abdullah Al- Jufairi.