Yachts stolen from Dubai reportedly used in criminal activities

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Two yachts stolen from Dubai were used to commit crimes including human trafficking and gunrunning, a news report has revealed.

According to The National, the yachts went missing in July last year and that UK private investigators are currently inspecting their theft. The two yachts worth, more than $4 million, were used by the company Ultimate Charter that provides online renting of yachts for lavish experiences around Dubai.

The yachts, Alter Ego and Zula, were stolen from Dubai Marina. Investigators are looking for information regarding anyone in Dubai who has had trouble recovering boats left with Ultimate Charter.

The company manager, Tareq Siam, is wanted by Dubai Police for a series of unrelated crimes including an unpaid fine of Dh1,000, a one-year sentence for alcohol-related crimes, and other unstated charges filed between 2011 and 2014. Siam is allegedly hiding in Manila, the Philippines, the report said.

“The two boats belonging to our client, who lives in Europe, have ended up in the Philippines where he [Mr Siam] is hiding,” John Brown, director of fraud investigations and recovery at Condictor, told the newspaper. “We are in the process of recovering them but it is a long police process,” he further stated.

He is also suspected to owe large sums to banks in the UAE. “We are also aware he has a Jordanian and Israeli passport, and may have used another one of our client’s boats for people trafficking in Turkey, along with a Syrian partner,” Mr Brown said.

“From all the documents and evidence we have seen, Siam owes at least one bank in Dubai $1 million [Dh3.6 million] and left the country by cover of night on a boat via Oman.”

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