Frank A. Rubino , ESQ.

FEDERAL AND INTERNATIONAL CRIMINAL DEFENSE

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Man lives life of luxury while defrauding businessman out of $10M

A former Ohio man, allegedly embarked on a real estate scam clearing $10 million in two years. The Pakistan native is a resident of Dublin, Ohio, but appeared to have been spending most of his time in South Florida living the life of a Miami dude -- spending money lavishly on jewelry and expensive cars, hanging out in lavish nightclubs and sporting his own bodyguard. He was even referred to by acquaintances as the "Prince of Dubai."

The white collar crime began in 2008 when a Washington businessman was looking for an overseas investment opportunity. His investment banker referred him to the alleged suspect telling him that this man was worth more than $100 million. The Washington businessman had founded his own business, an IT consulting firm, and then sold it, so apparently he had a small fortune to invest. It is unknown if the investment banker was in on the scam.

The alleged suspect convinced the man that his uncle had ties to the Pakistani government and would provide tips on parcels of land to buy. Then they would sell the land to the Pakistani government at a profit. Over the next two years, the man wired money to the alleged suspect 178 times to a total of $9.5 million.

When the Washington businessman decided it was time to collect on some of the $182 million the alleged suspect told him they had earned, he began receiving bogus letters from the "so-called" Pakistani prime minister's office.

Investigators claim the "Prince of Dubai" had used the money to purchase expensive luxury automobiles such as a black Lamborghini, Mercedes Benz, Rolls-Royce, Cadillac and Aston Martin, as well as expensive jewelry.

The 35-year-old former Ohio man is now back in custody in Ohio with no bond. He is awaiting a Federal Grand Jury to hear his case on charges of fraud, money laundering and tax evasion.

Federal Grand Jury hearings are complex and require an experienced attorney. In cases like this, an investigation has probably been going on for quite some time, and there is probably a lot of evidence against this man that an experienced attorney will need to revoke.

Source: miamiherald.com, "South Beach king of bling gets busted" Evan S. Benn, Jun. 15, 2013

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