The 'faux prince of Dubai' who duped Americans out of millions

In a case highlighting the risks of deceptive business schemes, Alex Georges Tannous, 39, of Ain-Akrine, Lebanon, was sentenced to 20 years in federal prison after posing as a "prince from Dubai" to swindle unsuspecting victims out of a staggering $2.5 million.

Tannous spun a web of deceit, claiming to be a royal entrusted with bringing American businesses to the lucrative Dubai market.

He promised millions in returns, but there was one catch - his victims needed to make an initial investment. This "investment" was nothing more than a ploy to line his own pockets. Once the money was secured, he used it to fund a lavish lifestyle for himself and his family.

The FBI, however, wasn't fooled by Tannous' royal charade. They investigated his fraudulent scheme and arrested him in February.

Faced with the weight of evidence, Tannous pleaded guilty to one count of wire fraud. However, the damage was already done. Dozens of hard-working Americans, many of them small business owners pursuing the American dream, became victims of his financial nightmare.

In July, a federal judge handed him a sentence of 240 months behind bars and ordered him to pay back $2.2 million in restitution. It was a hefty price for Tannous and a hard-won victory for his victims.

“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 developed with them over years,” said U.S. Attorney Jaime Esparza for the Western District of Texas.

For anyone considering international business deals, this case serves as a cautionary tale: if a deal sounds too good to be true, it probably is.