Israeli-Mexican Man Arrested in Colombia on Major Dubai Bank Fraud Charges
Translated & summarized from Ynet by baba
Colombian authorities arrested Michael Mizrahi, an Israeli-Mexican citizen, at Bogotá airport on Thursday on suspicion of a multi-million dollar fraud against a Dubai bank. He was apprehended due to an Interpol red notice and faces potential extradition to the UAE for charges including fraud and money laundering. The alleged scheme involved a network using forged documents and caused an estimated $16.7 million in damages.
The story in 6 lines · by baba
- Michael Mizrahi, an Israeli-Mexican citizen, was arrested in Colombia on suspicion of a major fraud against a Dubai bank.
- The alleged fraud caused approximately $16.7 million in damages to Al-Harithom Bank in the UAE.
- Mizrahi was apprehended at Bogotá airport due to an Interpol red notice.
- Colombia is considering Mizrahi's extradition to the United Arab Emirates to face trial.
- Charges include fraud, money laundering, forgery, and the use of forged documents.
- The scheme allegedly involved an international network using forged financial documents and company accounts.
Authorities in Colombia arrested a 61-year-old Israeli-Mexican citizen, Michael Mizrahi, at Bogotá's airport on Thursday. Mizrahi is suspected of involvement in a multi-million dollar fraud scheme targeting a bank in Dubai. An Interpol "red notice" had been issued for Mizrahi, who was apprehended while attempting to leave Colombia. The country is now considering his extradition to the United Arab Emirates, where he may face trial.
Mizrahi, dubbed "the banker" by Colombian media, is alleged to have been part of a fraud at Al-Harithom Bank in the UAE. The scheme reportedly caused approximately 61 million UAE dirhams, equivalent to about $16.7 million, in damages. Colombian authorities stated that the UAE is seeking his extradition on charges including fraud, money laundering, forgery, and the use of forged documents.
The investigation centers on an international network that presented itself as a group of high-profile investors. This network allegedly employed a sophisticated mechanism, using forged documents such as bank guarantees, contracts, and financial statements to support its operations. According to information obtained by Interpol, Mizrahi and other network members organized meetings to bolster the network's apparent legitimacy and build trust with business associates.
Some of the funds allegedly obtained through fraud were reportedly transferred to accounts linked to companies associated with Mizrahi, including one named WYB AG General Trading. The investigation suggests that forged money transfer instructions were used to delay payment demands, buy time, and move funds abroad.
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