Two Cleveland-area brothers were charged Thursday with fraud and money laundering by federal prosecutors after they allegedly ran a cryptocurrency scam posing as members of the United Arab Emirates (UAE) royal family and defrauding investors of millions of dollars. He was indicted in the ring scheme.
According to reports, Zubair Mehmet Abdul Razak al-Zubair, 41, and Muzamil Muhammad al-Zubair, 30, were charged with wire fraud, money laundering, and theft of government funds. He was charged in federal court in Cleveland, Ohio. press release From the United States Attorney’s Office for the Northern District of Ohio.
The brothers are charged with one count of conspiracy to commit wire fraud, 14 counts of wire fraud, one count of conspiracy to commit money laundering, four counts of money laundering, and one count of theft of government funds. Zubair is also charged with one count of harboring a fugitive.
Prosecutors said the men were involved in multiple schemes including investment fraud, Small Business Administration (SBA) COVID-19 relief loans, cryptocurrency mining, commercial real estate leasing, and residential real estate leasing.
The al-Zubair brothers also lied about their extraordinary wealth and connections to politicians and foreign governments, and even falsely stated that Zubair was married to a princess and therefore a member of the UAE’s royal family. federal prosecutors added.
Zubair even signed “Your Excellency” when communicating with people, the indictment says.
Meanwhile, Muzammil advertised that he had a pet tiger at his residence in the United Arab Emirates, according to a person familiar with him who spoke to Breitbart News on condition of anonymity.
“He told me that he has a pet tiger at his home in Dubai,” the source said. “He told me about how he kept this tiger from an early age, how he let it live in this huge cage for years, and how he got in there and snuggled with the tiger. He told me.”
Prosecutors said Muzamil lied and claimed to be an experienced hedge fund manager, saying he was not registered with any regulator and that he received his financial education only by watching YouTube videos.
The men also destroyed a mansion Zubair had rented in Bratenar, a wealthy village about eight miles from downtown Cleveland. Bratenar has been home to senators, actors, doctors, surgeons, NBA players, and at one point even Khloe Kardashian.
Officials said Zubair allegedly used forged documents to rent a residence located in a gated waterfront community on East Hanna Lane off Lakeshore Boulevard. There is. report By cleveland.com.
The Bratenar mansion was reportedly owned by Dr. Nizar Zain, head of the liver disease department at the Cleveland Clinic. Prosecutors said Zubair paid the doctor his first year’s rent in advance, but stopped paying in March 2023.
Zubair also used the luxury home to hide Kelvin Bedell, a fugitive wanted on federal criminal charges, from authorities, prosecutors alleged.
In August 2023, FBI agents raided the mansion using flashbang grenades and recovered 83 guns, 39 luxury watches including Richard Mills, Rolex, and Patek Philippe, and a 2022 Mercedes-Benz S 580. , seized a 2021 Indian Scout Bobber Sixty motorcycle.
Prosecutors say Zubair and Muzamil bought a private jet and $15,000 worth of surveillance equipment for rental homes, paid $4,000 for rooms at luxury hotels in Cleveland and paid $80,000 for Browns games. He reportedly rented a suite for $3,000.
One of the investors fooled by Zubair was a former crypto miner from China. The other man, his girlfriend from the UAE, invested in his company Dubai Bridge Investments and provided him with about $860,000, authorities added.
The al-Zubair brothers reportedly defrauded Chinese investors for 11 months, during which time they owned Nela Park, General Electric Lighting’s headquarters in Cleveland, and used it to get cheap electricity rates. He reportedly told her that he would be released.
According to the indictment, the men even used Nella Park as a backdrop during a meeting with East Cleveland Mayor Brandon King and his staff in 2021, which resulted in Chinese investors signing contracts in the mayor’s office. He reportedly signed the contract and then paid the brothers $3 million.
Zubair and Muzammil reportedly went on to steal over 1,000 cryptocurrency miners from Chinese investors, which they later sold to a Canadian company for $6 million.
Prosecutors also allege Zubair falsely claimed to be in the restaurant business to receive $27,400 in SBA coronavirus relief loans. The brothers used the money to pay for flights and hotels, pocketing $6,000, according to the indictment.
Both men pleaded not guilty at arraignment before U.S. District Judge James Grimes. They were later released from custody on $20,000 unsecured bonds.
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