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Sunday, August 29, 2010

"Million dollar bill" in the UAE

Three years ago, a woman in a Wal-Mart in Georgia tried to purchase $1671.55 worth of merchandise - with a million dollar bill. She was hoping that the store would give her back $998,328.45 in change.

That same year, also in Georgia, a man tried to deposit a million dollar bill into a bank. As the article says, such a move "would raise eyebrows even in Dubai."

Well, the writer was probably right.

From the Gulf News:

Abu Dhabi Police have arrested a man for trying to exchange two $1-million bills at the UAE Central Bank.

Abu Dhabi Police said the confiscated $1-million bills were not real currency notes but had been used for decorative purposes by a group called the "International club for multi-millionaires" in the US.

Police said the 45-year-old African suspect convinced a European woman that the $1 million bills were genuine and could be exchanged at the UAE Central Bank. He also allegedly offered her 30 per cent commission on the two notes, for acting on his behalf, the police said.

When the woman approached the Central Bank, the department dealing with the counterfeit currency at the bank informed Abu Dhabi Police.

Police said the woman agreed to co-operate with the joint bank and police operation, in a bid to arrest the man.

She then convinced the suspect that the bills had already been exchanged, and arranged to meet him on the pretext of handing the money to him at a hotel in Abu Dhabi.

Abu Dhabi Police said they arrested the suspect during the meeting and that when interrogated he said he got the bills from a gold and diamond merchant in Belgium who had offered him 154 similar bills.