FBI arrests fake ‘Emirati prince’ who swindled investors

A Lebanese fraudster posing as an Emirati prince to swindle investors out of millions of dirhams has been arrested by the Federal Bureau of Investigation (FBI). According to reports, Alex Tannous, 38, was arrested in San Antonio, Texas in the United States last week. He was detained without bond and appeared before the federal court in San Antonio last Friday (February 9). He faces a 20-year jail term if convicted. According to court records, Tannous has been posing as an Emirati businessman and diplomat and said he was connected to the UAE royal family. He also gave out business cards that said "Prince Alex Tannous". “In reality, Tannous was a skilled con artist who used his gifts of persuasion to bilk unknowing victims out of hundreds of thousands of dollars," according to the FBI. Tannous persuaded his victims to pay him thousands of dollars through entities he owned and controlled, claimng he can help bring their business to the UAE. One of his victims is a businessman from Belgium who lost 700,000 euros (Dh2.77 million) that he through was being invested in a project in Qatar. A separate case on the matter has been filed in Dubai Courts. Another victim, Equico Enterprises Inc., paid Tannous $70,000 (Dh256,900) to open cloud kitchens to the UAE. The business venture never materialized. Investigation revealed that Tannous filed for bankruptcy in 2021 to evade investors who were seeking to recover their funds. ICA/Expat Media
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