Michael Mizrahi, known as “The Banker,” was arrested in Colombia on an Interpol Red Notice linked to a $16.7 million fraud case involving Dubai-based financial institutions, Roya News reports. The 61-year-old, who holds Israeli and Mexican citizenship, was detained at Bogotá’s El Dorado International Airport after arriving on a flight from Madrid. He was travelling in transit toward Venezuela and carried multiple passports. Colombian authorities, including the National Police’s Criminal Investigation Directorate (DIJIN) and Interpol, acted after confirming the Red Notice was issued at the request of United Arab Emirates authorities. Mizrahi has been placed at the disposal of Colombia’s Attorney General’s Office as diplomatic and judicial extradition proceedings move forward. UAE investigators accuse Mizrahi of involvement in a sophisticated network that defrauded the Bank of Khartoum, a Sudanese bank with major Dubai Islamic Bank ownership, of about 61.44 million UAE dirhams, roughly $16.7 million. Police say the group posed as high-profile investors and representatives of legitimate commercial projects. Investigators describe fraudulent moves including the presentation of bank guarantees, contracts, and false financial documentation. Members staged meetings and simulations to create an appearance of legitimacy before transferring funds to companies linked to Mizrahi, including WYB AG General Trading, reported to be owned by him, and others such as Art Lawyers. Police allege the network later used dilatory tactics, including false transfer orders, to buy time while moving money abroad. Colombian police describe Mizrahi as a high-impact target based on the UAE case file. One report notes he was previously convicted in the Emirates and had earlier faced an unsuccessful extradition request while in Spain. UAE authorities require Mizrahi to serve a criminal sentence for fraud, money laundering, forgery, and the use of false private documents. His extradition process to the UAE is ongoing while he remains in Colombian custody.