Notorious Conman Behind Bars After 14-Year Manhunt

Ahsan Ali Syed, the mastermind behind a $60 million advance-fee fraud that ensnared some of New Zealand and Australia's most prominent property developers, has been sentenced to six and a half years in prison after a 14-year legal battle. The verdict, handed down in a Zurich District Court in Switzerland, marks a long-awaited resolution for victims who have suffered immense financial and emotional losses.

The case, which spanned multiple jurisdictions and continents, was spearheaded by Auckland-based lawyer and former police officer Mark van Leewarden. Van Leewarden's firm, Warden Consulting, was commissioned by New Zealand businessmen in 2011 to investigate and recover funds lost to Syed's Western Gulf Advisory (WGA) operation. The trail led from India to London, Spain, and Bahrain before finally converging in Switzerland, where Syed was arrested in late 2022 on a Swiss warrant for fraud.

Van Leewarden, who has spent 25 years in fraud investigations, called this case the highlight of his career. “I’d rank it No 1. There’s some good results from bigger cases, but this one was very satisfying,” he said. “Because it was so difficult and it took so long. He raised every single obstacle that he possibly could to avoid ending up at a substantive hearing.”

According to Swiss prosecutors, Syed's WGA was a sophisticated scam that lured desperate businessmen with promises of large loans, only to disappear with the money. The funds were allegedly used to finance a luxurious lifestyle, including a private jet, a football team, and a team of publicists and security personnel.

Victims included Wellington Phoenix owner Terry Serepisos and former NZ Mint owner Gary McNabb. The fraud, which occurred between 2010 and 2011, took advantage of the post-Global Financial Crisis credit crunch, offering false hope to those in dire need of financing.

Despite the international nature of the case, which made jurisdictional cooperation difficult, Van Leewarden managed to coordinate with multiple countries to bring Syed to justice. “That’s the way that they operate, and generally they’re going to get away with it unless there’s a real overall focus on it,” he said.

Following his arrest in London in 2022, Syed spent two years in British custody before being extradited to Switzerland. There, he faced the culmination of a long and arduous legal process that saw him convicted on 14 charges of commercial fraud, though he was found not guilty on two similar counts.

Van Leewarden expressed hope that the conviction would bring some measure of justice to victims who were “completely decimated, financially, emotionally and physically.” While the recovery of $7 million was a success, Van Leewarden acknowledged that it was a small consolation for those who had suffered so much.

As Syed now faces the consequences of his actions, the case serves as a stark reminder of the need for vigilance in the face of high-profile financial schemes. It also highlights the importance of international cooperation in bringing transnational criminals to justice.