Dubai: Police arrested an Asian man for allegedly attempting to sell a fake $1 million bank note for Dh450,000.
Major Saleh Bin Osuba, Director of Combating Economic Crimes Department at Dubai Police, said they received information that the suspect was looking for a buyer of the bank note, which are usually available from central banks as a form of investment. Holders may cash the note provided it is genuine.
Aside from the note, police also seized fake authenticity certificates which the suspect allegedly uses to trick prospective buyers into believing that the bogus commercial instrument is genuine.
According to Major Osuba, the bank note as well as the certificates, and documents were all fake.
Undercover
Officers of the investigative unit who went undercover posed as potential buyers and lured the suspect in meeting them at a hotel in Al Garhoud.
The suspect was immediately arrested after handing over the fake bank note and documents.
"He informed the undercover agents that he had more bank notes and due to urgency to collect money he is selling them the note for only Dh450,000 but the other notes will be sold for $500,000," Major Osuba said.
In a follow-up operation, police searched the suspect's apartment and found equipment he used to create the fake bank note and documents, he said.
The case has been referred to public prosecution.
