By Samuel Gaytan
A Lebanese man who falsely claimed to be a prince from Dubai and defrauded U.S. investors of millions was sentenced to 20 years in federal prison for wire fraud. Alex Georges Tannous, 39, of Ain-Akrine, Lebanon, was convicted for a scheme in which he persuaded victims to pay substantial upfront fees, promising them access to millions of dollars in funding for business ventures.
Tannous, who posed as a wealthy Dubai prince seeking U.S. companies to invest in Dubai, convinced his victims that an initial payment was necessary to unlock the promised funding. Once he received the money, authorities say he used it to fund his luxurious lifestyle and support his family, rather than investing in any legitimate business opportunities. In total, Tannous swindled approximately $2.5 million from several victims.
Special Agent in Charge Aaron Tapp of the FBI’s San Antonio field office remarked, “Tannous misled his victims by presenting himself as a prince offering genuine business prospects. In reality, he was only lining his own pockets. Many of his victims were small business owners with dreams of success, but they ended up caught in a financial nightmare.”
Tannous’ conviction underscores the ongoing priority of the FBI to address investment fraud schemes that target vulnerable business owners hoping to achieve the American dream.