Man arrested over fake 'million dollar bills' in UAE

A man has been arrested in the United Arab Emirates after a woman was tricked into trying to change two souvenir US$1 million notes at the UAE Central Bank. The 44-year-old suspect, AB, from Ivory Coast, convinced the woman that the notes were being used in currency markets and told her to exchange them in return for 30 per cent of their value, police sources said.

The notes were, in fact, issued by the US-based World’s Millionaires Club as a souvenir for selected members and are sold at nominal prices. They do not have a value of US$1m. The case was brought to light after the counter-money laundering and suspicious cases unit at the bank reviewed two notes presented to it to verify their authenticity.

Col Hammad Ahmed al Hammadi, the director of the criminal investigation department (CID) at Abu Dhabi Police, said the man had been living illegally in the UAE and was trying to cash the notes through the woman. He was arrested in a police trap following investigations.

“The suspect claimed that he was not aware that the notes do not have any value and that he is a mere mediator for a diamond trader from Belgium who asked him to exchange the notes in exchange of money,” said Col Dr Rashid Mohammed Bursheed, the head of the CID’s organised crime unit. “He also said the diamond trader was supposed to send him an 154 additional notes from the same category.”