in Business - 13 May, 2017
by Curtis - no comments
Stolen Luxury Yachts Utilized For Committing Crimes

If you have always wondered what it would be like to go on a luxury cruise, you can always book a holiday in Phuket along with a yacht charter from reputable companies such as Five Star Sea Cruises. For Dubai, however, this is not a good year because of the incident where two of their luxury yachts have been stolen. It was reportedly about $4 million dollars and the suspect was a fugitive conman. The yachts are now revealed to be utilized by the criminals in committing crimes such as gun running and human trafficking.

According to private investigators in the United Kingdom, they are now taking measures to recover the stolen yachts. The said yachts are being used by Ultimate Charter for their daytrips all over Dubai as well as during parties hosted on the weekend.

Tareq Siam is the manager of the company and is the conman the Dubai Police is now looking for. He is also convicted of a number of unrelated offences. It was July in 2016 when the yachts were stolen and it was a week after the incident when it was reported to the police.

According to information, Mr. Siam is currently hiding in Manila, the capital city of the Philippines.

The luxury yachts are named Zula and Alter Ego. They were docked at the Dubai Marina prior to being stolen. The suspect also stole about 425,000 Euros of the operating budget allotted by the business.

Condictor Solutions are now on the hunt for people who have left their boat under the care of Ultimate and was now unable to get them back.

According to the director of fraud investigations and recovery based in Condictor, John Brown, the luxury yachts are owned by their client from Europe. The boats are now believed to be in the Philippines along with Mr. Siam who is currently in hiding.

This is not the only offence that Mr. Siam is facing and the police are positive they are going to retrieve the boats back but the process can be a tedious one. If you are planning a cruise in Dubai, you may postponed it for the meantime and try out Phuket cruising with Five Star Sea Cruises.