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Gang busted for bid to sell fake Kuwaiti Dinars for Dh1.2m

Abu Dhabi - Colonel Dr Rashid Mohammad Borshid, Head of the Criminal Investigation Department (CID), said the suspects include a father (64) and his son (37) of British nationality.

The Abu Dhabi Police have foiled a bid to sell fake 100,000 Kuwaiti Dinars for Dh1.2 million. The fake notes were in the possession of a gang of five people, including the general manager of a medical clinic.
Colonel Dr Rashid Mohammad Borshid, Head of the Criminal Investigation Department (CID), said the suspects include a father (64) and his son (37) of British nationality. The duo had come to the UAE on a visit visa. The three other suspects are Indian nationals and include the head of marketing of a perfume company and a household appliances salesman.
"Late last month, the CID received a confirmed tip-off about an individual who had in his possession fake 100,000 Kuwaiti Dinars that he intended to sell as circulated notes to any buyer for the best market price. The suspect specifically asked for a sum of Dh1.2 million for the notes," explained Col Borshid.
The suspects availed of latest technological developments in counterfeiting and targeted people who lack experience in currencies or banknotes.
The CID contacted the seller through an undercover source, and struck an agreement with him to buy the fake Kuwaiti Dinars. "The suspect came to the agreed location at the specified time along with the other four individuals, and they found themselves in the hands of the police."
Col Borshid said the CID moved to the suspects' residence, where they seized various equipment and papers with fake banknotes printed on them, in addition to thousands of currencies for Gulf, Arab, US, Asian and African countries.
He said that during interrogation, some of the suspects admitted to their involvement in the incident in exchange for a certain percentage, while others claimed that the fake notes did not belong to them and they were not aware that they were fake.
reporters@khaleejtimes.com