Man forges $42 million in fake investment scam in Dubai

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Man forges $42 million in fake investment scam in Dubai

Dubai - He counterfeited the money to lure his victims.

By Web Report

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Published: Wed 15 Aug 2018, 1:00 PM

Last updated: Wed 15 Aug 2018, 3:15 PM

A businessman forged $42 million (Dh154,276,500) in order to scam people into investing money with him in Dubai.   
The 58-year-old African national had counterfeited the money in $100 bill denominations and tried to convince an Asian man that he should invest his own money with him in a joint venture, as per Al Khaleej report.
According to the prosecution's investigation, the man had asked the victim to pay for the shipping of box which contained some cash worth $7,500 (Dh27,549). 
He showed him stacks of fake dollar bills to convince him of his financial assets.      


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