The brokerage company based in Dubai reportedly disappeared overnight and left behind empty offices and destroyed investors who claim to have lost millions of dirhams. The only remnants of the first commercial brokers in the Persian Gulf in their former offices in Capital Golden Tower, Business Bay are, according to the Khaleei Times report in a bucket and a black garbage bag.
The offices left in a hurry
Until last month, Gulf operated outside the apartment 302 and 305 in the tower and employed around 40 employees. Their primary roles included potential clients of cold calls to promote Forex investments. Now there is once bustling offices unoccupied, with telephone lines and dust covering floors.
“They returned the keys, cleaned everything and left as if they were in a hurry,” said Khaleei Times. “Now we have people who come to them daily.”
Indian investors count their losses
The affected people include Indian compatriots Mohammad and Fayaz Poyl from Kerala, who invested $ 75,000 in the company.
“I came here to look for answers, but nothing, no one. Just empty offices. We called every number, but no one answered,” Fayaz said. “It’s as if they never existed.”
Fayaz told how he was attracted by his leadership. “My relationship manager convinced me to make an initial deposit of $ 1,000. Over time, I was pushed to add more funds, lured the illusion of smooth trading and early profits,” he said.
Another victim, who lost $ 230,000, said he was assigned a manager of relations he had communicated with him in Cannada, his native language.
“The platform first showed a small profits and even won some money – just enough to build confidence,” he explained. “Then the pressure began. They blocked withdrawals and pushed me to more risky shops while demanding more deposits.”
The scheme breaks down
Once more details appear, investors say Gulf first strongly encouraged investments through Sigma-One capital, unregulated online trading platforms.
“They guaranteed safe returns,” said Sanjiv, another Indian investor who said he had invested his life savings in the system.
Another investor named Mohammad, who lost $ 50,000, said employees first used the names of Gulf and interchangeably Sigma-One. “It was as if it were the same society,” he said.
Legal steps are taking place
The Dubai police confirmed that the case was registered against the first commercial brokers in the Gulf and Sigma-One capital. The authorities also stated that Sigma-one capital is not licensed by the Dubai Office for Financial Services (DFSA) or the Securities and Commodity Office (SCA).
“I wish I checked their login information,” one investor lamented. “Now we have left with empty offices and empty bank accounts.”
The investigation is underway because more investors come up with similar complaints.
(Tagstotranslate) Dubai
