The Australian businessman Ian Bruce Simm arrived in Dubai in 2005, and when he took a "business trip" out of the country three years later, he left behind some unfinished business: two fraud cases and five total years of prison time.
Mr Simm, 54, is the subject of an Interpol arrest warrant issued late last week. His whereabouts are unknown, but if he is in his home country, Australia would be required to prosecute him on behalf of the Dubai authorities under a new extradition and legal assistance agreement between the countries. Mr Simm established Cougar Holdings in Dubai, a company he already had registered in the British Virgin Islands. He was a self-described investment guru who set up businesses in advertising, public relations, graphic design, media planning and communications. All promoted Cougar Holdings.
One of the holding company's subsidiaries was Easy Property Group. Among its ventures was a high-priced investment fund. "The fund value is $100 million and will be invested primarily in the dynamic Dubai and Abu Dhabi property markets," Mr Simm advertised on his site. The minimum investment entry level in this fund was US$1 million (Dh3.67m). It is not known how many investors sunk money into the scheme.
His office was set up in the Fairmont Hotel in Dubai, where he hired several staff. Mr Simm sponsored sailing competitions and sporting events, attended galas and dined with the movers and shakers of Dubai. But despite glossy websites promoting "prime real estate projects", all of the endeavours existed only on paper, officials said. According to a source who spoke on condition of anonymity, Mr Simm left the country in late 2008 after he learnt he would face one of the court cases.
His business license in Dubai expired on March 28, 2009. His office phones were disconnected and his mobile phone switched off permanently. In the first of two cases brought against him in 2009 in the Dubai Court of First Instance, Mr Simm was sentenced in absentia to one year for fraud involving an undisclosed amount. In a second case, filed by one of the investors, he was sentenced in absentia to four years in prison, also for fraud involving an undisclosed amount.
The UAE has 246 international arrest warrants registered on Interpol, nearly all issued by Dubai Police in connection with fraud cases. All member states of Interpol are required to arrest wanted fugitives and extradite them to the requesting nation if there is an extradition treaty between the two nations. The UAE has extradition treaties with 35 countries. myoussef@thenational.ae * With additional reporting from Awad Mustafa
The bio
Academics: Phd in strategic management in University of Wales
Number one caps: His best-seller caps are in shades of grey, blue, black and yellow
Reading: Is immersed in books on colours to understand more about the usage of different shades
Sport: Started playing polo two years ago. Helps him relax, plus he enjoys the speed and focus
Cars: Loves exotic cars and currently drives a Bentley Bentayga
Holiday: Favourite travel destinations are London and St Tropez
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A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
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