Abu Dhabi: A plan to sell 100,000 Kuwaiti dinars in fake notes in exchange for Dh1.2 million has been foiled, the Abu Dhabi Police announced on Monday.
The five men caught with the forged cash in 2,000 dinar notes included 36 year-old B.S., a general manager of a private medical facility.
Lt Col Dr Rashid Mohammad Borshid, head of the Criminal Investigation Department (CID), said that that a British man, A.R., 64, and his son, D.R., 37, were also among the suspects.
The two remaining suspects are Indians M.H., 56, who works as a marketing manager at a perfume store and T.K., a home appliances salesman.
The plan was thwarted towards the end of last month by the CID, Lt Col Borshid revealed.
Authorities had received a tip-off regarding five men who possessed 100,000 dinars in fake notes in a bid to sell them for about Dh1.2 million. They targeted individuals who were not well-versed in currencies and exchange rates.
Posing as a buyer, the CID agreed to meet one of the suspects who showed up at the agreed location along with four others. The gang was arrested and a search of their homes revealed currency printers and thousands in fake GCC, US, Asian and African currencies.
Only some of the suspects confessed to their crimes during questioning, adding that they had participated in exchange for a percentage of the profit. Others claimed to have no knowledge that the money was fake.
They have all been referred to the public prosecution.
Lt Col Borshid said that promoting forged currency is a dangerous crime that poses a threat to the country’s safety, stability and economic activity for individuals and institutions. This is because such illegal activities use up the country’s gains and affects its reputation and trustworthiness.
Among some of the Ministry of Interior’s major fake money busts include one where $14 million (Dh51.42 million) was being promoted. The operation was called ‘Black Dollar Storm’.
