Europeans, Asians held in $10 billion bank scam: report

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Abu Dhabi police have arrested seven men for plotting to defraud the UAE central bank of 7.2 billion euros ($10.17 billion) using false documents, the state news agency WAM said on Saturday.

It said the suspects, three Europeans and four Asians, had presented forged documents from a commercial bank in Europe purporting that the central bank of the United Arab Emirates owed the funds representing the family investments of the gang's leader.

"The documents presented by the suspects were fake and meant for attempted fraud targeting the central bank," WAM quoted Colonel Hammad al-Hammadi, director of the police's Criminal Investigation Department, as saying.