Suspicion of massive fraud in Dubai: The Israeli "banker" arrested in Colombia

Michael Mizrahi, 61, an Israeli-Mexican citizen, was arrested in Colombia on suspicion of a massive $16.7 million fraud against Khartoum Bank in Dubai. He was arrested following an Interpol red notice, and Colombia is considering his extradition to the United Arab Emirates.

Michael Mizrahi, 61, an Israeli-Mexican citizen, was arrested two days ago (Thursday) at Bogotá Airport, Colombia, following an Interpol red notice. The main suspicion: a massive fraud worth approximately $16.7 million (61 million Emirati dirhams) against Khartoum Bank in Dubai. According to Colombian authorities, Mizrahi, dubbed "the banker" by local media, was part of an international network that presented itself as a group of investors. The network allegedly used forged documents of bank guarantees, contracts, and financial documents. Some of the fraudulently obtained funds reached accounts of companies linked to Mizrahi, including WYB AG General Trading. Colombia is now considering his extradition to the United Arab Emirates, where he may face charges of fraud, money laundering, forgery, and use of forged documents.