A New Podcast and the Dubai Wild West of the Middle East – January 2026 Newsletter
Written by staff on February 2, 2026
My New Podcast
I’m starting a podcast called People of Interest. It is part of the Authors on the Air Network. We are a group of 40 authors who interview other authors. My podcast will be looking primarily at true crimes. I did an interview with William Mann on Tuesday about his book, Black Dahlia. He is a best selling author who thoroughly researched the infamous murder of a young woman in in LA in 1947. She became known as the Black Dahlia. Her grisly death inspired books and films and the creation of a myth about whom she was. The killer was never arrested, but Mann presents convincing evidence on who it was.
Our conversation is out now and available here:
Is Dubai the Wild West Financial Hub of the Middle East?
When I worked as a banker in Montreal, I would sometimes get letters of credit from Dubai (United Arab Emirates). These were payment mechanisms for exports of Canadian goods. The importer would be some company in Dubai. But the goods usually weren’t going there. That was just where the payment came from. Often the goods would be shipped directly somewhere else—like Iran. The letter of credit from Dubai was just a front to disguise the real purchaser. Why? Because the U.S. prohibited sales to Iran, and because banks didn’t want to be connected with those sales. Dubai was famous for permissive financial arrangements like this. It still is.
Here’s what Dubai apparently turns a blind eye to: CEOs fleeing fraud charges, cryptocurrency scam operators and scam artists, money stolen from governments, drug trafficking, tax evasion, and terrorist financing. If you’re a criminal it’s the place to vacation and do a deal. However, the U.A.E. will expel violent criminals or those who threaten their tourism industry. An exception was when Israeli assassins murdered a Hamas leader in his hotel in 2010. The U.A.E. policy reminds me of Tunisia. It is a beautiful country with extensive beaches, Roman history, and good food. Yasser Arafat lived there, so he welcomed terrorists but prohibited any violence in the country. Now that he is dead, that is no longer the case.
Dubai provides nice amenities like international flights, a sophisticated banking system, an extensive gold market, no income or capital gains taxes, and real estate that can easily be purchased and sold. That’s why criminals from Europe, Asia and even Latin America have chosen to live there, and to use Dubai to launder their money.
Heads of criminal organizations from the Netherlands, Eastern Europe, North Africa, and Latin America have established themselves in Dubai. The leaders get together and form joint investment ventures to spread the risk of big drug deals. Multi-ton shipments come from Latin America and go directly to European ports. The structure reminds me of how banks join together to do a syndicated loan, because the loan is too big for just one of them.
One of these families is the Kinahans from Ireland. They have been involved in drug smuggling for generations. The family has sourced cocaine and marijuana from Latin America and shipped it directly to Europe. The youngest son apparently concentrates on the sourcing and shipment part of the drug business. He also loves boxing and sponsored a gym and matches in association with the Top Rank company. On the side, he’s been accused of giving orders to murder his Irish competition. His brother concentrates on the more intellectual money-laundering side of the business. As for the father? He admires Putin and has done deals around the world, such as buying aircraft to sell to Iran. He apparently exported European currency hidden in cars to Africa, converted the currency into gold on the Zimbabwean black market, shipped the gold to Dubai, and sold it there. He used the proceeds to purchase real estate and companies throughout Europe. This is a multi-generational family business.
Do the rulers of Dubai know about this? It’s hard to believe they don’t. One son of the rulers invested in a real estate company associated with a Kinahan family member. European prosecutors have routinely filed extradition requests for the Kinahans that the authorities in Dubai ignored. The U.S. offered $5 million for information leading to the arrest of leaders of the cartel. So far, the family continues to live in luxury in Dubai. The two youngest are in their twenties and learning the business.
But all good things must come to an end. One of the associates for the Kinahans was arrested and extradited to Ireland, and the U.A.E. and Ireland now have a formal extradition treaty. Could extradition of the kingpins be possible? Maybe as a favor to Donald Trump or to someone in charge of a European country?
My Diet
Do you call this a meal? Hmm, this will take some training. And no one told me I’d have to give up pretzels. Well, I do cheat. But I’ve lost 10 pounds and need to lose a couple more. It’s been a life of salads and healthy food (thankfully cooked by my wife). But I was pre-diabetic so I had to do something. One saving grace. It’s now easier to do pull-ups at the gym.
A Free Primer on How to Tell a Story
Would you like a free training manual on how to tell a story? Picking the right story and telling it well are keys to making a sale or inspiring a donation. The primer in the link below divides elements of storytelling into 28 short sections. As a subscriber you can get it for free to download from this link:
https://carlvonderau.com/thank-you-for-subscribing/
Saving Myles
How about a good read for the New Year?
All the Best,
Carl
