Israeli-Mexican Businessman Arrested in Colombia on UAE Fraud Charges
Translated & summarized from i24NEWS Arabic by baba
Colombian authorities arrested Michael Jaime Shmues Mizrahi, an Israeli-Mexican national known as "the banker," at Bogotá's El Dorado Airport on an Interpol Red Notice. He is wanted in the UAE for a $16.7 million fraud case targeting Bank of Khartoum, involving accusations of money laundering and forgery. Mizrahi was previously sentenced to five years in prison in the UAE, and Spain had previously denied his extradition. Colombia is currently processing the UAE's extradition request.
The story in 6 lines · by baba
- Michael Jaime Shmues Mizrahi, known as "the banker," was arrested in Colombia on an Interpol Red Notice.
- He is wanted in the UAE for a $16.7 million fraud case targeting Bank of Khartoum.
- Mizrahi faces charges including fraud, money laundering, and forgery.
- He was previously sentenced to five years in prison in the UAE.
- Spain had previously refused to extradite Mizrahi to the UAE.
- Colombia is currently reviewing the UAE's extradition request.
Colombian authorities have arrested a man holding Israeli and Mexican citizenship, known as "the banker," at El Dorado Airport in Bogotá. The arrest was made based on an Interpol Red Notice related to a financial fraud case estimated at $16.7 million that targeted Bank of Khartoum in Dubai. According to Colombian police, the suspect is wanted in the UAE to serve a judicial sentence.
Colombian authorities are currently processing his extradition to the UAE, with no final decision yet announced. Media reports identified the suspect as Michael Jaime Shmues Mizrahi, who also reportedly holds Canadian and Lebanese citizenship. He is accused of fraud, money laundering, forgery, and the use of forged private documents.
Reports suggest that individuals linked to the case posed as major investors and representatives of legitimate businesses, using forged bank guarantees and financial documents to legitimize their transactions. They allegedly organized meetings and presentations to make deals appear legal and persuade bank representatives to transfer funds. The financial damages attributed to the network are estimated at around $16 million, with some funds transferred to accounts of companies associated with Mizrahi, including WYB AG General Trading.
Mizrahi was reportedly sentenced to five years in prison in the UAE on November 29, 2022. Spain had previously refused his extradition to the UAE, with the Spanish National Court citing a "complete lack of professional legal protection" in the proceedings against him there. Media reports have described Mizrahi as a businessman involved in real estate in Mexico and Canada, and previously owning restaurants, hotels, and limousine services in Quebec.
There are discrepancies in reports regarding the suspect's age and the exact time of his arrest. Some reports state he is 61 and was arrested on October 15, while others say he is 62 and was detained on the night of October 14 after arriving from Madrid. The extradition process is ongoing, with legal and diplomatic coordination between Colombia and the UAE continuing.
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