Thursday, May 21, 2009

Briton held in Thailand on alleged $150m Dubai fraud

By: AFP

Published: 21/05/2009 at 04:29 PM

Police have arrested a Briton in Bangkok's red light district who has been eight months on the run after allegedly embezzling US$150 million from a company in Dubai, police said o n Thursday.

Michael Bryan Smith, 43, was arrested in the Nana area on Wednesday night after authorities in the United Arab Emirates sought Thailand's assistance, police told a press conference.

Smith allegedly siphoned off other workers' salaries into his own bank account while working as personnel manager at a Dubai property company,  according the warrant from the UAE police said.

Police said Smith, who is married to a Thai woman, had travelled extensively through Vietnam, Hong Kong, the Philippines and Thailand after fleeing Dubai.

They said Smith had denied all charges and the case would be handed over to the Attorney-General's Office and the UAE's application for his  extradition would go through the proper procedures

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