A 39-year-old Lebanese man, Alex Georges Tannous, has received a 20-year prison sentence from a U.S. federal court in San Antonio after being convicted of wire fraud. Tannous, a businessman based in the UAE (United Arab Emirate), falsely portrayed himself as a wealthy member of Emirati royalty, deceiving his victims with claims of exclusive connections.
Fraudulent Investment Schemes Target American Investors
Court records indicate that Tannous enticed individuals with promises of profitable investment deals, asking them to provide initial payments to access these alleged opportunities. Once he received these funds, he used them to finance an extravagant lifestyle for himself and his family, as outlined in a press release by the U.S. Department of Justice on November 7. Investigators reported that he ultimately extracted about $2.5 million from his unsuspecting victims.
Guilty Plea and Restitution Order
Following his arrest on February 9 and facing six counts of wire fraud, Tannous admitted guilt on July 25. The court has ordered him to repay $2.2 million in restitution to his victims.
U.S. Attorney Jaime Esparza highlighted Tannous’s betrayal, noting that he exploited the trust of many Americans, particularly in San Antonio, by presenting himself as a reliable business partner. Special Agent Aaron Tapp from the FBI’s San Antonio office emphasized the distress Tannous caused his victims, many of whom were small business owners pursuing their own dreams only to fall into financial hardship due to his deceitful schemes.
World Peace Ambassador for the UAE
Although he was presented online as a “World Peace Ambassador for the UAE” and the chairman of a Dubai-based conglomerate, court records show that Tannous depended on his parents and his ex-wife’s income. In early 2021, he declared bankruptcy to evade repaying his investors.
Tannous was arrested on February 9 of this year and faced six counts of wire fraud. In July, he pleaded guilty to one of the charges, and in addition to his prison sentence, he was ordered to pay $2.2 million in restitution to his victims, according to a press release from the US Attorney’s Office yesterday.
