WAM ABU DHABI, Jan 23rd, 2010: Seven men, 3 Europeans and 4 Asians, were arrested by Abu Dhabi Police for allegedly attempting to make fraudulent withdrawals worth 7.2 billion Euros (around AED 37.9) from the UAE Central Bank, Abu Dhabi Police said on Satu

WAM ABU DHABI, Jan 23rd, 2010: Seven men, 3 Europeans and 4 Asians, were arrested by Abu Dhabi Police for allegedly attempting to make fraudulent withdrawals worth 7.2 billion Euros (around AED 37.9) from the UAE Central Bank, Abu Dhabi Police said on Saturday.

The group produced forged documents showing that the central bank owed a European Bank the huge amount which they claim are family investments owned by their boss, explained Abu Dhabi Police in a press statement.

"The documents presented by the suspects were fake and meant for attempted fraud targeting the Central Bank", said director of the Criminal Investigation Department (CID) of Abu Dhabi Police Colonel Hammad Ahmed Al-Hammadi.

The arrests were made in coordination with the Central Bank's Anti-Money Laundering Unit.

All members of the group denied the charges of forging documents and attempted fraud, he added noting that they even exchanged other accusations.

If convicted, all seven men could face a maximum of 10 years in jail, according to Abu Dhabi Police.

WAM/MMYS