Israel-Mexico National Arrested in Colombia Over UAE Bank Fraud
Colombian police arrested Israeli-Mexican national Michael Mizrahi at Bogotá airport on an Interpol Red Notice, following a multi-million-dollar bank fraud scheme targeting the United Arab Emirates.
Colombian authorities arrested 61-year-old Israeli-Mexican national Michael Mizrahi at Bogotá's airport on Thursday, acting on an Interpol Red Notice over a multimillion-dollar bank fraud in the United Arab Emirates. Mizrahi, dubbed 'The Banker' by local media, was detained while attempting to leave the country as Colombia evaluates an extradition request from the UAE.
According to the investigation, the scheme targeted a bank in the United Arab Emirates, resulting in losses estimated at 61 million Emirati dirhams, roughly 16.7 million US dollars. UAE authorities seek his extradition on charges of fraud, money laundering, forgery, and the use of forged documents by an international network.
The network allegedly posed as a high-profile investor group, utilizing sophisticated mechanisms including fake bank guarantees and fraudulent financial contracts. Investigators stated that some of the illicit funds were channeled into accounts linked to Mizrahi, including a company named WYB AG General Trading, using fabricated wire transfer orders to stall payments and divert funds abroad.
