The conman, the jet and the Australian developer who helped bring him down
But after a decade on the run, the jet-setting fraudster is behind bars in Switzerland, largely due to the efforts of Sydney property developer Keith Johnson and New Zealander Mark Van Leewarden, a former undercover cop turned barrister who specialises in international fraud investigations.
From September 2010 to May 2011, Syed scammed close to $50 million from Australian and New Zealand businesspeople who had trouble getting finance in the wake of the 2007-2008 Global Financial Crisis.
'He used an opulent office in Bahrain to lure the victims,' said Van Leewarden, who has spent years in pursuit of Syed.
From all accounts, Syed looked the part sitting at his polished desk, wearing a silk cravat, bejewelled fingers and surrounded by busts of horse heads.
His company, Western Gulf Advisory (WGA), boasted that 'Mr Ali is a trusted adviser of royal individuals and families, high-profile luminaries and people of public importance'. He also claimed to have a family fortune of $8 billion to invest.
The truth was far different. Syed was wanted in India over an immigration racket and, having moved to London, he fled from there in 2005 owing £7800 ($12,520) in rent, along with a string of unpaid bills.
Three years later he set up WGA and began his scam, offering loans of up to $US200 million. However, borrowers had to stump up an establishment fee worth 1.6 per cent of the loan. The promised loans to his 23 victims never eventuated.
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