A Lebanese man who posed as an Emirati prince was sentenced to 20 years in prison on Thursday by a U.S. federal court in San Antonio for wire fraud. Alex Tannous, 39, falsely claimed to be a prominent businessman and diplomat from the UAE with close connections to Emirati royalty. He was exposed as a con artist who defrauded victims around the world out of hundreds of thousands of dollars.
Court documents reveal that Tannous’ schemes involved offering lucrative investment opportunities, claiming that victims needed to pay an upfront fee to unlock millions of dollars supposedly available for business ventures. Instead, the money he received funded his lavish lifestyle and that of his family.
Investigations by Khaleej Times previously uncovered that Tannous’ fraudulent activities affected victims globally, not just in the U.S.
One victim, Marc De Spiegelerie from Belgium, expressed relief after the sentence was handed down. “He got 20 years in federal prison here in the States,” De Spiegelerie wrote, adding that Tannous would also serve three years of supervised release, complete over 2,000 hours of community service, and pay restitution to U.S. victims. “It may not bring back the 700,000 euros (Dh2.77 million) or the 10 years of my life, but knowing he could spend the next two decades behind bars gives me and other victims solace,” he said.
De Spiegelerie recalled transferring funds to a Dubai bank after Tannous persuaded him to invest in a project allegedly based in Doha, Qatar. “This was in 2012. He hosted us at his Palm Jumeirah house and claimed to be friends with the royals,” he said.
Similarly, Omar Y Abouhalala from Libya reported losing Dh1.15 million and sought legal recourse in Dubai courts.
Tannous’s company, Equico Enterprises Inc., played a central role in his schemes. The FBI found that he posed as an Emirati official responsible for selecting U.S. firms for UAE projects. Tannous even pitched a joint venture with a software company owner to set up ghost kitchens, claiming millions in funding from an Emirati development fund. He secured $70,000 in payments between June and August 2021, but the projects never materialized.
Despite presenting himself online as a “World Peace Ambassador for the UAE” and chairman of a Dubai-based conglomerate, court records revealed Tannous relied on his parents and ex-wife’s earnings. In early 2021, he filed for bankruptcy to avoid repaying investors.
Tannous was arrested on February 9 this year and faced six counts of wire fraud. He pleaded guilty to one count in July. In addition to his prison sentence, he was ordered to pay $2.2 million in restitution to his victims, according to the U.S. Attorney’s Office.
“Alex Tannous was a serial con artist who betrayed dozens of hard-working Americans in San Antonio and elsewhere, capitalizing on the trust he’d built over the years,” said U.S. Attorney Jaime Esparza for the Western District of Texas.
“Tannous convinced his victims that he was offering legitimate business opportunities when in reality, he was simply lining his own pockets,” added FBI Special Agent in Charge Aaron Tapp of the San Antonio field office. “Many of his victims were small business owners trying to live the American dream, only to find themselves trapped in a financial nightmare.”
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