NE Ohio brothers, one claiming to be a prince, charged with multi-million dollar scams: Prosecutors
EAST CLEVELAND, Ohio (WJW) – Two Northeast Ohio brothers, one claiming to be a prince, face federal fraud and money laundering charges that prosecutors say bilked several people out of up to $10 million.
According to court documents, one of the illegal schemes was signed in the office of a local mayor.
Zubair Abdur Razzaq Al Zubair, 41, claimed to be a prince. His 30-year old brother, Muzzammil Muhammad Al Zubair, claimed to be a hedge fund manager.
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Both are natives of East Cleveland and on their business website, Dubai Bridge Investments, state they are International Economic Advisors to the city of East Cleveland and the mayor.
They face a 22-count indictment accusing them of multiple fraud and money laundering schemes.
The indictment states from June 2020 through August 2023 the brothers engaged in multiple investment, real estate, cryptocurrency and COVID relief fund schemes, bilking people out of as much as $10 million.
According to the indictment, Zubair Abdur Razzaq Al Zubair claimed to be married to a princess and a member of a royal family in the United Arab Emirates, where he lived from 2008 to 2020.
He often used the term “His Excellency” in correspondence.
The indictment says his brother’s “only education on hedge funds was from watching YouTube videos.”
Federal prosecutors say the men used at least two women to make false investments to “enrich themselves, to obtain funds for their personal use.”
They allegedly used the money to buy private jets, luxury travel, lavish hotel stays, entertainment, shopping, jewelry, dozens of firearms and other items.
Between July 2021 and May 2022, prosecutors say the brothers claimed to control Nela Park, the headquarters of GE Lighting in East Cleveland and defrauded one victim out of more than $3 million in a cryptocurrency scheme.
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But a second victim saw news reports that the company had been sold to Phoenix Investors, not the defendants.
In August of 2021, the indictment states the Al Zubair brothers “attended a signing ceremony between their company and one of the victims at the East Cleveland’s Mayor’s Office,” regarding Nela Park, which was attended by “the East Cleveland mayor, his chief of staff, his law director and others.”
One of the victims was told to pay $3 million in exchange for a $33 million return.
After more questionable transactions, the brothers were indicted last month for fraud and ordered to forfeit all money and property that they gained.
It is important to mention that no East Cleveland officials have been accused of a crime.
Although city hall was closed for the Presidents’ Day holiday, FOX 8 did reach out to Mayor Brandon King and several city council members on their cell phones, but have not received any responses.
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