A Lebanese man who posed as an Emirati prince has been sentenced to 20 years in federal prison by a US court for wire fraud. Alex Tannous, 39, who falsely presented himself as a wealthy businessman and diplomat with close ties to the Emirati royal family, was convicted of defrauding victims out of hundreds of thousands of dollars through a series of deceptive investment schemes.
Tannous, who operated under the guise of an influential Emirati official, promised his victims substantial returns on investments by claiming they needed to pay an upfront sum to unlock millions supposedly available for business ventures. However, instead of using the funds for the purported investments, Tannous diverted the money to fund his own extravagant lifestyle, which included lavish homes and high-end personal expenses.
Global Scope of the Scheme
The con artist’s fraud was not limited to the United States but extended worldwide, with victims reporting losses across multiple countries. Among the victims was Marc De Spiegelerie from Belgium, who lost a significant amount of money in the scam. In an emotional message to Khaleej Times, De Spiegelerie expressed relief after the court’s decision. He shared that the sentence would not restore the 700,000 euros (Dh2.77 million) he lost, but it provided him with solace knowing that Tannous would spend the next two decades behind bars.
De Spiegelerie recounted how, in 2012, Tannous lured him into the scam with promises of a lucrative project based in Doha, Qatar. Tannous even hosted him at his Palm Jumeirah mansion, claiming to have close ties with Emirati royalty. Similarly, Libyan victim Omar Y Abouhalala lost Dh1.15 million after being duped by Tannous, and sought legal recourse in Dubai’s courts.
The Fraudulent Operation
Tannous’s fraudulent activities centered around a company called Equico Enterprises Inc., which he used to establish his false identity as an Emirati official responsible for overseeing UAE-related projects. He even convinced a US software company owner to invest in a joint venture to launch ghost kitchens, claiming to have access to millions from a development fund. Between June and August 2021, Tannous secured $70,000 from the venture, though the projects never materialized.
Tannous’s claims of being a ‘World Peace Ambassador for the UAE’ and the chairman of a Dubai-based conglomerate were found to be fabricated. In reality, court records reveal that Tannous relied heavily on financial support from his parents and ex-wife, and in early 2021, filed for bankruptcy in an attempt to avoid repaying his investors.
Justice Served and Restitution Ordered
Tannous was arrested in February 2023 and faced six counts of wire fraud. He pleaded guilty to one count in July, and in addition to his prison sentence, he was ordered to pay restitution to his victims. A total of $2.2 million will be repaid to those defrauded by Tannous, according to the US Attorney’s Office.
“Tannous was a serial con artist who betrayed dozens of hard-working Americans,” said US Attorney Jaime Esparza for the Western District of Texas. “He capitalized on the trust he’d developed with his victims, convincing them he was offering legitimate business opportunities when, in reality, he was simply lining his own pockets.”
FBI Special Agent in Charge Aaron Tapp of the San Antonio field office also condemned Tannous’s actions. “Many of his victims were small business owners trying to live the American dream, only to find themselves in a financial nightmare,” he said.
With Tannous’s conviction, the US court has ensured that he will face justice for his long-running fraudulent scheme that targeted vulnerable investors both in the US and abroad.
