The answer is simple. Remember, these are no ordinary criminals but seasoned serial swindlers who have mastered the art of deceit to perfection. They know every loophole in the law and exploit it to the hilt. For starters, they never put their names on the trade licenses of the trading companies they help set up. Their owners and signatories are mostly handpicked dummies. In one case Sunlink Marine, it was a mason, in another Salim Electrical Devices, it was a driver and in a third, Steelite Electrical, an Indian man who had never travelled to the UAE.

How his identity was stolen and used is a mystery. People who lend their names and documents do it willingly in return for money. A driver who was made the CEO of one such firm claims he got Dh5, to play along the charade. These frontmen are flown out of the country before the scam comes to light as are those who are brought to the country on visit visas and given fake business cards. Nearly 50 times. Prominent runaway trading firms include Barnabio Dh10 million , Reliancee Dh 5million , Explore Dh15 million , Al Shikha Dh2 million , Priyanka G.

T Dh1 million Connex Dh3 million , S. R Global Dh15 million Van Der Heide Dh2 million Trade Key Dh2 million Midwest General Trading Dh3 million , LMI Dh, , Dyna Trade Dh, and Bright Way amount yet to be tabulated.

Exact figures are hard to come by, but the numbers could be any where between 3, and 4, In many business neighbourhoods, nearly one out of every four trader we spoke to had been victim of the scam with many losing more than two million dirhams individually.

Anything they can get their hands on, but their top favourites are building material, electronics, stationery items, food stuff, home appliances, industrial equipment, hotel stays and international flight tickets. There have been also instances of conmen buying 2, goats, hundreds of Ferrari World Tickets, 10, fire extinguishers and 60, gallons of diesel. At least 10, including B. D and S. E The full names of these trading firms have been withheld for legal reasons.

Until , there was just one gang. It was led by D. and his second-in-command S. A, also from India. With nobody to challenge their hegemony, they reigned supreme.

However D. luck ran out when he was caught in China in and charged with not paying traders their dues. As he remained stuck overseas for a year and a half, M. and the duo of E. emerged on the UAE scene and quickly spread their tentacles. By the time D. returned to Dubai, the competition had grown exponentially with three gangs vying for a piece of the pie.

But now the extremely lucrative trading scams have spawned a tangled network of several splinter groups. One of these is led by a Yemeni and another by S. Conmen deposit large amounts into the bank accounts of trading firms so that they can produce a healthy bank statement should you ask for it.

The audit reports submitted by them are either false or incorrect. In a recent case it was almost identical to the audit report submitted by another fraudulent firm last year. Since traders are wary of dealing with new companies, the gangs often take over the management of existing firms and use their credibility to scam traders.

At least one travel agency is invariably hit in each scam. In one instance, conmen booked around 50 rooms at a five-star hotel in Garhoud besides hundreds of flights originating from USA, Sri Lanka, India and Pakistan. The spate of scams has changed the rule of business in the UAE. Panic-stricken traders are reluctant to strike deals with new firms.

Many have also withdrawn credit facilities to existing clients. The website could be a cut or copy-and-paste job and the testimonials and credit references could be fake. The spate of scams has intensified calls for stricter rules. Traders said their main grouse is that the police treats these as bounced cheque cases instead of organised crime.

Many are also demanding a law to prevent establishments from buying stolen goods. Scores of traders routinely contact XPRESS before dealing with a firm. Your tip-offs saved many from falling for the scam. Besides research volunteers and an IT expert, we are also indebted to all those anyonmous tipsters who supplied a plethora of information, and to our staff and interns who sifted through piles of documents during the investigation. You can manage them any time by clicking on the notification icon.

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All Sections. Image Credit: XPRESS It took us almost a year to get to the bottom of it. Terrible Three Our investigations show that the scams — now an endemic spreading like cancer — are largely the handiwork of just three gangs. Even as you read this, they are planning to pull out at least 10 mega scams.

Meet the men behind the trading scams Bespectacled, balding and mostly dressed in safari suits, father of three D. Dummies The gang struck around this time last year too.

As it turns out they were dummies. The goods, estimated to be worth Dh30 million were sold dirt cheap to third parties for cash.

Runs computer shop in Bur Dubai, in charge of selling of electronic items, hosting websites for bogus firms 2. Lives in Al Nahda, handles purchase and selling of generators, switchgears, solar panels 3. Pakistan-based woman, acts as purchase staff 4. M: Comes on visit, specialises in building material Overview of E. Haul: Dh3 million SunLink Marine near Wafi City and Jabal Al Noor in Al Ghusais.

Haul: Dh5 million Alpha Impex GT, Deira figures not available Explore Fareast Marine, Bur Dubai. Haul: Dh30 million Bright Way Technical Services in DIP and Black Star Electronics in Deira. Haul: Yet to estimated Dad of three, M. List of bogus trading firms established by M. between March August to scam traders: MARCH Royal General Trading in Deira.

Haul: 2 million APRIL Brazza General Trading, Deira: 1 million MAY Lifeline Surgical Trading, Ajman: 3 million AUGUST Salim Electrical Devices SED , Sharjah: 1 million: A little extra: MUB was arrested by Dubai Police in November How many times have these gangs struck in the UAE since last year and what were the estimated losses?

How many traders have been hit by these scams in the past three years? What do the bogus companies buy from unsuspecting traders? Where are the stolen goods stored?

In rented warehouses. Most of them are in Ajman and Sharjah but there are a few in Dubai too. Are any of these companies preparing to run away after scamming traders in the next few weeks? Could there be a FOURTH gang? What else did our investigation uncover Companies whose names are given as credit references are part of the criminal network. The logo of Expo Dubai is routinely misused on websites and brochures to get credibility. More From UAE.

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The painstaking investigation involved sifting through hundreds of documents, speaking to dozens of confidential informants besides innumerable tails and stakeouts, often in the dead of night. As the final pieces of the puzzle fall into place, the picture that emerges is deeply disturbing. XPRESS can now reveal that a network of organised criminals is behind the odd brazen trading scams that have hit the UAE since , wiping out nearly one billion dirhams from the market and destroying thousands of lives in the process.

Our investigations show that the scams — now an endemic spreading like cancer — are largely the handiwork of just three gangs. They are led by longtime UAE residents who stay in the shadows, perfecting the game, building smuggling and distribution networks through China, India, Pakistan, Iraq and the Far East, without leaving so much as a fingerprint.

Secure in the belief that the law will never catch up with them, their criminal activities have assumed frighteningly grotesque proportions. But now we have not just identified the masterminds of these gangs, we also have an exhaustive record of their criminal history along with minute personal details of all their key accomplices — in some cases — down to what cars they drive, where they dine and who they date. We are disclosing everything here except pictures of individuals and their names because of legal constraints.

Bespectacled, balding and mostly dressed in safari suits, father of three D. looks anything like a criminal, much less the wily thug who has pulled off several audacious trading scams worldwide. At least four were in the UAE. The most recent was in February when he duped 40 UAE businessmen of Dh35 million through the phoney S.

Global Trading which operated from the UBL Building on Bank Street, Bur Dubai. Here is the scam timeline of the man who has been living in Dubai for nearly 25 years and has 14 cases registered against him at Al Raffa Police Station by S. However before he can flee, traders get whiff of the scam and kidnap him. remains in their custody for 17 days before the Indian embassy in Beijing intervenes and secures his release. R Global Trading, but like many times in the past, remains behind the curtains.

On paper, the company is owned by an Indian Rasheed Odakkal, and D. is just a sales staff. A little extra: In the wake of D. Fond of expensive watches, E. heads a close-knit gang of 20 but his most trusted aide is Bangladeshi S.

who lives with his two wives and three kids in Ajman. Traders are still counting their losses after Bright Way Technical Services in DIP and Black Star Electronics in Deira, shut shop. ESSM Power Control Switch Gears, alone lost Dh1 million. Another firm that delivered steel plates last week lost Dh, Even cafeterias were not spared. One such eatery was issued a dud cheque for supplying biryani to Black Star staff during their stay in Dubai.

The gang struck around this time last year too. Around 70 traders were hit when Explore Fareast Marine jointly owned by a Singaporean and an Indian closed their Al Khaleej Centre office in Bur Dubai and disappeared.

Bright Way, Black Star and Explore were all the brainchild of E. and S. who flew in around 35 men and women on visit visas, gave them fake business cards and sent them into the market as purchase officers. The impersonators bought everything from home appliances and foodstuffs to construction material and electrical coils against post-paid cheques which eventually bounced.

Key gang members are also taken along as a reward for their services. Nobody has to pay anything as all flights and hotels are pre-booked through ususpecting tour agencies. A little extra: E. drives a Lexus and BWM with nearly identical numbers. Runs computer shop in Bur Dubai, in charge of selling of electronic items, hosting websites for bogus firms. Lives in Al Nahda, handles purchase and selling of generators, switchgears, solar panels.

Combined haul: Dh6 million. Haul: Dh5 million. Haul: Yet to estimated. Dad of three, M. has had several brushes with the law. He has been arrested several times, but is yet to mend his ways. After falling out with his UAE-based brothers over a bitter business dispute, M.

stumbled into the world of crime and has not looked back since. The Hor Al Anz based Indian resident recruits criminals to carry out trading scams through an office supplies company run by his wife. The ill-gotten goods are sold through his accomplices H. and G. to a shop located near a hypermarket in Karama. Some goods also end up in a shop near Al Fahidi Metro Station. It is run by a woman whose husband is in jail. drives a BMW sedan registered in the name of a firm that deals in computers and office equipment and is located on Khalid Bin Walid Street.

A little extra: MUB was arrested by Dubai Police in November The answer is simple. Remember, these are no ordinary criminals but seasoned serial swindlers who have mastered the art of deceit to perfection. They know every loophole in the law and exploit it to the hilt. For starters, they never put their names on the trade licenses of the trading companies they help set up.

Their owners and signatories are mostly handpicked dummies. In one case Sunlink Marine, it was a mason, in another Salim Electrical Devices, it was a driver and in a third, Steelite Electrical, an Indian man who had never travelled to the UAE. How his identity was stolen and used is a mystery. People who lend their names and documents do it willingly in return for money.

A driver who was made the CEO of one such firm claims he got Dh5, to play along the charade. These frontmen are flown out of the country before the scam comes to light as are those who are brought to the country on visit visas and given fake business cards.

Nearly 50 times. Prominent runaway trading firms include Barnabio Dh10 million , Reliancee Dh 5million , Explore Dh15 million , Al Shikha Dh2 million , Priyanka G.

T Dh1 million Connex Dh3 million , S. R Global Dh15 million Van Der Heide Dh2 million Trade Key Dh2 million Midwest General Trading Dh3 million , LMI Dh, , Dyna Trade Dh, and Bright Way amount yet to be tabulated.

Exact figures are hard to come by, but the numbers could be any where between 3, and 4, In many business neighbourhoods, nearly one out of every four trader we spoke to had been victim of the scam with many losing more than two million dirhams individually. Anything they can get their hands on, but their top favourites are building material, electronics, stationery items, food stuff, home appliances, industrial equipment, hotel stays and international flight tickets.

There have been also instances of conmen buying 2, goats, hundreds of Ferrari World Tickets, 10, fire extinguishers and 60, gallons of diesel. At least 10, including B. D and S. E The full names of these trading firms have been withheld for legal reasons. Until , there was just one gang. It was led by D. and his second-in-command S. A, also from India. With nobody to challenge their hegemony, they reigned supreme. However D. luck ran out when he was caught in China in and charged with not paying traders their dues.

As he remained stuck overseas for a year and a half, M. and the duo of E. emerged on the UAE scene and quickly spread their tentacles. By the time D. returned to Dubai, the competition had grown exponentially with three gangs vying for a piece of the pie. But now the extremely lucrative trading scams have spawned a tangled network of several splinter groups. One of these is led by a Yemeni and another by S. Conmen deposit large amounts into the bank accounts of trading firms so that they can produce a healthy bank statement should you ask for it.

The audit reports submitted by them are either false or incorrect. In a recent case it was almost identical to the audit report submitted by another fraudulent firm last year. Since traders are wary of dealing with new companies, the gangs often take over the management of existing firms and use their credibility to scam traders. At least one travel agency is invariably hit in each scam.

In one instance, conmen booked around 50 rooms at a five-star hotel in Garhoud besides hundreds of flights originating from USA, Sri Lanka, India and Pakistan. The spate of scams has changed the rule of business in the UAE. Panic-stricken traders are reluctant to strike deals with new firms.

See more of Masa Forex General Trading- UAE on Facebook. One such eatery was issued a dud cheque for supplying biryani to Black Star staff during their stay in Dubai. MASA General Trading LLC - ClarifiedBy clarifiedby. Nobody has to pay anything as all flights and hotels are pre-booked through ususpecting tour agencies. Outdated or incorrect information? is just a sales staff.

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