A Qatar businessman is to face trial on allegations he defrauded the US government of millions of dollars in a series of failed deals nearly a decade ago, it was reported.
Abdulla Al Jufairi returned to the US last month and last week pleaded not guilty in a federal court in Detroit to allegations he participated in a fraudulent loan scheme to acquire government funding to buy a series of petrol stations, according to a report by The Detroit News.
He left the US in 2006 before a federal grand jury issued indictments charging him with defrauding the Washington government of around $26m.
Arriving in the Middle East, he launched a number of projects, including an office block development on The Pearl-Qatar. He managed to attract millions of dollars in investment and loans but these too soon ran into trouble, according to the report.
A British investment house is also suing Al Jufairi for $75m for unpaid loans, while a Kuwaiti investment company is owed around $40m relating to failed land projects and development deals in Qatar.
One US investor owned money from a failed project in Michigan reportedly pursued Al Jufairi to the UAE and was awarded more than $650,000 by a Dubai court, the report said.
"His schemes have grown to a grand scale," Donald A. Jordan, an attorney and former associate of Al Jufairi was quoted as saying. Jordan moved to Qatar to work with Al Jufairi on his projects but has since distanced himself from the failed deals.
A US court has issued him with bail of $50,000 and ordered him to surrender his passport. A court date will be assigned in due course.
http://www.arabianbusiness.com/qatar-businessman-face-us-fraud-charges-512312.html
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