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WELLINGTON, New Zealand (RNZI, Feb. 12) – Palau President Tommy Remengesau has warned of a money scam after the government was offered a US$100 million loan by fugitive claiming to be the ruler of a new Pacific country.

Remengesau said the offer came from a group representing the newly-formed United Kingdom of Atlantis, ruled by a sheik.

However the supposed ruler, Sheik Yakub Al-Sheikh Ibrahim, is listed as a fugitive and wanted by the United States for wire fraud, money laundering, income tax evasion and false statements.

And Palauan investigators, who tried to locate the country at the coordinates given by a visiting delegation, found nothing but deep blue sea.

The delegation, claiming to be from the United Kingdom of Atlantis, arrived in Palau last month and asked to meet with the president.

The President’s chief of staff, Billy Kuartei, met with the group and listened to their proposal.

Mr Remengesau says the incident shows that money should never be the driving issue because it can get you involved with the wrong people.

February 13, 2004

Radio New Zealand International: http://www.rnzi.com/


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