Sharjah: An Arab national suspected of conning people out of millions of dirhams in an investment scam was arrested in Sharjah.
The fraudster managed to embezzled AED 110 million from his victims, promising them high returns on their money which would be invested in importing steel to a GCC country.
The list of his victims included traders of scrap and other people wishing to invest their savings in the lucrative businesses.
He was wanted by Interpol – in connection with notifications issued for his arrest in many countries, according to Emarat alyoum.
He is also facing charges in 25 cases which were filed against him in the United Arab Emirates.
He was referred to the Public Prosecution in Sharjah to face charges before standing trial.