Four arrested for Dh350,000 ‘well organised’ raid on RAK currency exchange

The gang, all aged in their 20s, allegedly tied up one employee and threatened another with a knife, forcing him to open a safe that contained dirhams and other currencies from Arab countries.

A gang of four Asian men have been arrested after a raid on a currency exchange in Ras Al Khaimah in which Dh350,000 in cash was stolen.

The gang, all aged in their 20s, allegedly tied up one employee and threatened another with a knife, forcing him to open a safe that contained dirhams and currencies from other Arab countries.

The raid was well organised and carried out in less than two minutes, police said.

Maj Gen Ali Al Nuaimi, Chief Commander of Ras Al Khaimah, said officers were able to identify the men despite them wearing masks during the robbery, which took place at about 2pm.

One of the gang was arrested as he was about to leave the country.

He was found to be living in the area where the theft occurred and had visited the exchange to make transfers before the robbery. He initially denied the charges against him but when confronted with the evidence he confessed to the theft and sharing the money with three others.

Officers searched his house and recovered the stolen money. Two other gang members were arrested in Sharjah in cooperation with the emirate’s police.

The fourth member had fled to Dubai but was arrested in an operation involving Dubai Police.

All four men confessed. Investigations are still ongoing to determine the circumstances of the case.