Fraudulent companies cause expatriates in Dubai to lose 1.8 million dirhams

rawda samy - | UAE

A Dubai expat suffers a loss of Dh1.8 million as a result of scammers simultaneously targeting all four of their enterprises.

Fraudulent businesses are responsible for the loss of 1.8 million dirhams to expats living in Dubai.

A frequent strategy was utilized by the fake businesses, which consisted of purchasing products and services with post-dated checks that were eventually returned as failed.

According to reports, an Indian businessman in Dubai has been left surprised and distraught when all four of his company enterprises were apparently taken advantage of by serial fraudsters over a span of days, resulting in a total loss of more than Dh1.8 million that he has incurred.

Mirza Iliaz Baig, who is in charge of managing Iveond Consultancy, IRA Travel and Tourism, and a general trade company that has divisions in foodstuffs and building goods, asserted that his enterprises were recently targeted by five bogus companies at the same time.

He stated that Iveond Consultancy, which is in the business of supplying hard drives, LED televisions, and laptops, was the company that suffered the most significant loss of Dh958,970. The amount of Dh648,000 was stolen from IRA Travel and Tourism, while the amount of Dh200,315 was lost by IRA General Trading and Foodstuff, which supplied onions and sanitary goods.

The bogus businesses, which included Digital Genius Technologies, Daemo International, Noor Al Sidra Trading, Fair Words Goods Trading, and Wahat Al Rayan Trading, have already disappeared, leaving behind a large number of additional individuals who have lodged complaints. A frequent practice was utilized by these companies, which consisted of purchasing products and services with postdated checks that were subsequently returned as unpaid.

"I am utterly heartbroken," Baig expressed. It's almost unreal. My four enterprises, which are all in different industries, were all taken advantage of by con artists. I am at a loss to come up with a solution to recover from these losses.

The journey that Baig went through started when Digital Genius Technologies approached IRA Travel and Tourism with the intention of booking hotel rooms and airline tickets totaling Dh319,000.

"When Digital Genius sent us with post-dated checks for the 15th, as well as the 30th or 31st, with a credit term of 30 to 45 days for each check, I was under the impression that business was performing really well. In addition to that, they offered a security check in the amount of Dh200,000," Baig related.

Additionally, during the same time period, IRA Travel & Tourism provided its services to four other separate businesses.

According to documents that Khaleej Times was able to get, the travel company completed 139 orders, which included aircraft tickets to a variety of locations, including London, Toronto, Los Angeles, Istanbul, Kolkata, and Kuala Lumpur. The reservations included stays at five-star hotels as well as opportunities to participate in activities such as desert safaris, Atlantis Aquaventure, and trips to the Burj Khalifa.

There was just one post-dated check that was honored, and it was for the amount of Dh92,979. The other checks were returned as unpaid.

Within the group of five bogus corporations, four of them targeted more than one of Baig's businesses. Due to the fact that they approached us within a few days of each other and vanished at the same time, I have a strong suspicion that they were connected. It appears that they were cooperating with one another," Baig stated.

Among his creditors, Digital Genius, which had its headquarters in Al Nahda, Dubai, is the most significant. In addition to the Dh265,000 that is owed for hotel and flight reservations, the corporation also purchased around Dh772,800 worth of Apple products, including forty Samsung screens, one hundred tablets, two hundred AirPods, forty digital cameras, twenty projectors, one hundred routers, and thirty MacBooks. It was the company's warehouse that received the delivery of the products.

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