A 70-year-old Miramar man is accused of turning high-dollar oil deals into a six-figure mirage, after police say buyers were left more than $280,000 in the hole from two failed commodity sales. One deal involved what was billed as a multi-million-dollar jet fuel contract, the other a crude palm oil purchase, and investigators say business records show no sign of real oil operations behind the pitch.
According to Local 10, Miramar police arrested Riyadh Gabbara, 70, on Tuesday on felony fraud and grand theft charges tied to allegations dating to 2023. The outlet reports he had previously been arrested in Pembroke Pines last November on a related grand theft charge. Officials say he was booked into the Broward Main Jail and was being held on a $50,000 bond.
Company records show
State filings list ME Global Oil Holding LLC at 17633 Southwest 47th Street in Miramar and name Alexander M. Gabbara and Nargiza K. Gabbara as authorized members, according to the Florida Division of Corporations. The records state the company was formed in 2020 and that it filed annual reports through 2025.
Broward Main Jail details
The Broward County Main Jail, the county's central intake and pretrial facility, is in downtown Fort Lauderdale at 555 SE 1st Avenue and is operated by the Broward Sheriff's Office, according to Broward County. The facility handles booking and temporary housing for defendants while their cases work through the court system.
How police say the alleged scams worked
Investigators told Local 10 that in the Miramar case, Gabbara signed a contract to sell jet fuel for $140,000,000. A buyer allegedly put down a $200,000 deposit that police say was never honored with fuel or refunded.
In the separate Pembroke Pines case, detectives allege a 2022 crude palm oil deal involved a $125,000 check that bounced. Investigators say the account tied to that check held only $200.52. The victim ultimately received a $5,000 wire but still lost $82,100 overall, according to the report. Authorities say those allegations are being handled as separate pending cases in the Broward court system.
Law enforcement in South Florida has seen this movie before. Earlier this year, the Broward Sheriff's Office detailed a different investigation in which more than $1.2 million was allegedly taken from a local business, according to NBC 6. Investigators say these kinds of cases can mean tracking tangled payment chains and international shipments to follow where the money really went.
Legal note
The charges are allegations and must be proven in court, and a defendant is presumed innocent until convicted. Anyone with information about either case is asked to contact Miramar police or the Broward State Attorney's Office.
